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MediaWorks becomes 100% Aussie owned following QMS acquisition
MediaWorks has announced that its long-term partnership with Australian digital outdoor media company QMS is being further strengthened following a stakeholder buyout.
Previously, QMS owned 54.41% of MediaWorks, compared to US hedge fund company Oaktree Capital Management’s 45.13%. From today, QMS has acquired 100% of Oaktree’s stake in the business, meaning MediaWorks is now completely Australian-owned.
Leveraging scale and expertise
This transaction will enable QMS to leverage its scale, reputation and expertise as the leader in digital out-of-home advertising and will also allow MediaWorks to better serve clients on both sides of the Tasman.
Together, the combined QMS and MediaWorks radio, OOH and digital assets represent one of the largest diversified media platforms in the region with more than 800 staff across 30 offices.
In New Zealand, MediaWorks engages with up to 3.5 million Kiwis across radio, digital and OOH, or 85% of the population, each week. QMS in Australia engages with over 20 million Australians across OOH, or 92% of Australians living in metro areas, each month*.
Looking to the next chapter
MediaWorks’ CEO Wendy Palmer says, “I’m excited about this milestone in our company’s history. Since 2019, MediaWorks has built a strong relationship with QMS, and this transaction marks the next chapter in our partnership. Together, we are bigger, stronger, and better positioned to deliver market-leading audiences to clients across the region.”
Barclay Nettlefold, Chairman of OMS and MediaWorks, adds, “This transaction materially expands QMS’ scale and presence in the New Zealand market. We look forward to leveraging our capability as leaders in digital OOH, particularly our expertise in delivering world-class street furniture networks such as the City of Sydney, to deliver excellent outcomes for both brands and outdoor asset owners in New Zealand.
“Combined with MediaWorks’ dominant position in radio and digital audio, the partnership creates a premier media platform for advertisers seeking to reach audiences across Australia and New Zealand.”
The transaction is expected to close in Q2 CY2025, subject to customary regulatory approvals. As part of the transaction, fresh funding lines will be established for MediaWorks providing increased flexibility for growth investment.
*Source; Nielsen CMI
**Source; OMA
