Out-of-home player QMS Media has responded to media speculation that it is in discussions with TLA Australia to acquire the business.
TLA is a global talent representation and sports marketing group with over 140 full-time personnel across several locations including Australia and the UK. The local division is headed up by former AFL player Craig Kelly (pictured above with son Will).
In a statement to shareholders on Wednesday afternoon, QMS acknowledged that it is in preliminary discussions to explore the potential acquisition of TLA Australia, but noted that no definitive agreement has been reached.
“If a transaction is successfully concluded, QMS will consider its various options for funding at the relevant time,” the statement read.
“QMS cannot comment further at this time and will keep the market informed in accordance with its continuous disclosure obligations.”
QMS’ response comes after The Australian Financial Review reported earlier on Wednesday that the company was in late-stage negotiations with TLA.
Earlier this month, TLA agreed to sell its US arm to GCM Sports Holdings for US$8.5 million, and told shareholders at the time it was making “positive progress” regarding the sale of its Australian businesses and that “discussions are continuing”.