QMS Media (ASX:QMS) has entered into a Heads of Agreement for a proposed merger of its New Zealand out-of-home, digital media and production business with MediaWorks, New Zealand's leading independent radio, tv and digital business.
The proposed merger would create the largest multi-media group in New Zealand.
It would deliver value for advertisers via an expanded sales network.
The transaction is subject to agreeing final binding terms and customary conditions and is expected to complete in the second quarter of CY 2019.
Shares in QMS Media (ASX:QMS) are trading 2.7 per cent higher to $0.95.