Nine Entertainment Co. has announced its acquisition of outdoor advertising company QMS for $850 million, signalling a strategic shift away from traditional media assets. The publishing and broadcasting giant said the transactions, which include offloading regional television stations to WIN, are aimed at creating a higher growth business. This move reflects a broader trend in the media industry towards digital and out-of-home advertising, as companies seek to capitalise on evolving consumer habits.
Nine is a major Australian media company with diverse assets in television, publishing, and digital media. It delivers content through free-to-air television, subscription video platforms, and various online channels. The QMS deal represents a significant investment in the outdoor advertising sector, expanding Nine’s reach and revenue streams.
In other news, Microsoft’s share price saw a notable plunge, raising concerns about the sustainability of the current AI investment boom. The drop serves as a reminder that market sentiment can shift rapidly, even in high-growth sectors. Elsewhere, a Melbourne cafe’s $12 coffee, dubbed the ‘Mont Blanc’, has gone viral, capturing the attention of social media users and coffee enthusiasts alike.
Additionally, precious metals are experiencing a surge in retail demand, with silver joining gold in attracting mum-and-dad investors. The rising prices are sparking a flurry of buying and selling, reminiscent of past precious metals rallies. Meanwhile, a Sydney eastern suburbs architectural marvel, owned by members of the Droga clan, has been listed for sale with a $20 million price tag.
