QMS: MediaWorks deal on track

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SYDNEY, Thursday: Out-of-home operator QMS has stuck by its profit estimates for this financial year, joining competitor oOh! in bucking the general declining spend in the Australia market, according to Mumbrella Australia news editor Paul Wallbank.

At the company’s AGM this week, ceo Barclay Nettlefold also told investors the company’s merger of NZ operations with New Zealand’s MediaWorks remains on track.

“QMS will hold a 40% shareholding in the expanded MediaWorks business,” Nettlefold said.

“QMS will hold a 40% shareholding in the expanded MediaWorks business.”

“Their targeted strategy to attract the desirable 25-54 year old audience is working with Channel 3 is now the number one TV channel for this audience across peak viewing, overtaking TVNZ1 and TVNZ2; and radio represents the top 6 music stations by share for 25-54 year olds.

“This is a positive result in a challenged and disrupted media landscape. Our focus now remains on successfully completing the merger and realising the full growth and potential that the combined capabilities will deliver for the group.”

  • Read Wallbank’s full report here

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