Infratil sells iSite to Australia's QMS Media for $49 mln

Mon, 30 Nov 2015

By Sophie Boot Dec. 1 (BusinessDesk) - Infratil, the listed infrastructure investor, has sold its advertising subsidiary iSite to Australian media company QMS Media for $49 million. ISite provides a third of New Zealand's commercial outdoor advertising, with 450 static billboards and a growing portfolio of digital billboards, as well as 1500 buses nationwide, and was valued at $18 million as at Sept. 30. Chief executive Marko Bogoievski told BusinessDesk the company was pleased with the sale. "That management team's done a good job at...

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