MediaWorks merges with QMS Media
The merger QMS Media Limited's New Zealand out-of-home, digital media and production business and MediaWorks, the New Zealand radio, TV and digital business has completed, with leading law firm MinterEllisonRuddWatts advising on the transaction.
MinterEllisonRuddWatts advised MediaWorks on its successful merger with the ASX listed company, QMS Media.
Upon completion of the deal, Corporate Partner Mark Forman (who led the law firm’s deal team) commented: “It was a pleasure to once again work alongside the MediaWorks team in completing this significant transaction.
“The merger creates a first-in-market multi-platform media business, allowing MediaWorks to provide an unparalleled portfolio of assets and enables it to deliver outstanding results to its customers.”
The agreement to merge was signed in late 2018, with the merger completing on 2 September 2019 after obtaining regulatory and other necessary approvals.
With the merger completed, funds managed by Oaktree Capital Management own 60% of MediaWorks, with the remaining 40% owned by QMS Media.
On completing the merger MediaWorks and QMS Media announced that its merged business had agreed to acquire ETC Media’s Christchurch digital billboard portfolio, adding 12 large format digital billboards to its existing national digital portfolio.
Partner Mark Forman led the merger advice, and banking partner Kate Lane led the team advising on financing.