QMS Media Ltd
(ASX:QMS) has expanded its digital outdoor media portfolio by acquiring a number of companies in the sports-venue advertising segment.
QMS paid a total of $22.4 million to purchase an 80% stake in Out and About Marketing and Media, a 50% equity interest in LIVE Docklands and a 20% strategic stake in Sportsmate Australia. This transaction was funded by a combination of existing debt and a $20 million institutional placement.
The outdoor media company says these acquisitions are highly complementary to its existing portfolio and strengthens its position in key strategic markets such as Sydney and New Zealand.
The company also expects that, under its newly-launched ‘QMS Sport’ brand, these new acquisitions will provide access to millions of attendees and broadcast and digital sports viewers. QMS regards them as a “large, appealing and engaged” demographic.
QMS posted a net profit of $13.3 million at 30 June 2016.
