QMS Media acquires billboard assets for up to $14.5M

Company News

by David Chau

QMS Media (ASX:QMS) has signed a deal to acquire up to 39 large format billboards in Victoria for a maximum of $14.5 million.

QMS will acquire these billboards from Total Outdoor Media Pty Ltd in tranches, with final completion for this deal scheduled no later than 31 December 2017.

The company says the average tenure of the underlying leases is more than 10 years.

In addition, QMS says these Victorian billboard assets will start contributing earnings during FY18 as it progressively acquires them.

QMS posted a net profit of $13.3 million at 30 June 2016.

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