QMS has announced that it is acquiring 100 per cent of Oaktree Capital Management’s stake in MediaWorks in a move that will see it further increase its scale and presence in the New Zealand market.
MediaWorks is one of New Zealand’s largest media companies, with over 600 staff across 25 offices covering all major regions and a stable of 10 radio stations, 92 digital billboards and over 200 static billboards across the country.
MediaWorks engages with up to 3.5 million Kiwis across radio, digital and out-of-home (OOH), or 85 per cent of the New Zealand population, each week.
Together, the combined QMS and MediaWorks networks now represent one of the largest diversified media operators in the Asia Pacific region, providing advertisers with the opportunity to impact a significant trans-Tasman audience at scale.
“We are extremely excited to strengthen our commitment to the New Zealand market and to welcome the MediaWorks team fully into the QMS group,” said QMS chief executive officer, John O’Neill.
“With market-leading media platforms on both sides of the Tasman, we see immense opportunity for growth, including new trans-Tasman trading opportunities for our agency partners and clients to strategically plan and buy best-in-class OOH across both key markets to better amplify their brands. We look forward to working closely with the MediaWorks team on this exciting new chapter.”
“I’m thrilled 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,” said MediaWorks CEO, Wendy Palmer.
“This transaction builds on QMS’ longstanding partnership with MediaWorks. With significant OOH tender opportunities on the horizon in New Zealand, we plan to leverage QMS’ reputation, track record and status as the partner of choice in digital OOH in Australia. This, alongside MediaWorks’ strength in radio and digital, will enable us to deliver strong client outcomes and accelerate growth in New Zealand,” said Barclay Nettlefold, chairman of QMS and MediaWorks.
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.
