QMS Media completes acquisition of TLA

Company News

by Rachael Jones

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Last Updated: 6/12/2019 10:44 AM

QMS Media (ASX:QMS) has completed the acquisition of TLA Worldwide Australia.

The company is looking to complete the purchase of Stride Sports Management Holdings next week.

The new expanded entity will see current TLA CEO, Craig Kelly become CEO of QMS Sport Australia, supported by QMS’ existing senior executive team across sports media.

On a 12 month pro-forma basis the TLA and Stride acquisitions are together expected to contribute CY2019 EBITDA of approximately $6.0 million, pre synergies.

Synergies of $1-2 million are expected to be realised before the end of CY2020.

Shares in QMS Media (ASX:QMS) closed 2.25 per cent lower at $0.87 yesterday.
 

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.