QMS Media proposes agreement for merger with MediaWorks

Company News

by Rachael Jones

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.

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.