QMS pulls out A$35M from NZ unit in MediaWorks merger

Mon, 10 Dec 2018

By Paul McBeth Dec. 10 (BusinessDesk) - QMS Media will pocket A$35 million in a tie-up with free-to-air New Zealand broadcaster MediaWorks, despite the Australian outdoor advertising firm being the junior partner. QMS and US private equity fund Oaktree Capital are merging their New Zealand operations, QMS New Zealand and MediaWorks. QMS will receive a A$35 million payment, subject to final adjustments in their financing agreement, and 40 percent of the merged entity while Oaktree will own 60 percent. That payment will largely extin...

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