“QMS acquires full ownership of MediaWorks”
QMS, an Australian media company, has completed the acquisition of MediaWorks, a prominent New Zealand advertising and radio firm. With QMS already holding nearly 55% of MediaWorks, the remaining 45% was recently purchased from US investment company Oaktree Capital Management. Among MediaWorks’ assets are popular radio stations such as The Breeze, Mai FM, More FM, and The Rock. Previously, MediaWorks also operated television channel Three until it was transferred to Warner Bros. Discovery, a US-based entity.
The CEO of MediaWorks, Wendy Palmer, expressed enthusiasm about the deal, calling it a significant milestone. Palmer highlighted the strong relationship established between MediaWorks and QMS since 2019, indicating that this transaction signals a new chapter in their partnership. According to Barclay Nettlefold, the chairperson of both QMS and MediaWorks, this acquisition will bolster QMS’ foothold in New Zealand’s media landscape. By combining MediaWorks’ dominant radio and digital audio presence with QMS’ media assets, this collaboration is set to create a premier platform for advertisers targeting audiences in both Australia and New Zealand.
The financial terms of the deal were not disclosed, contingent on obtaining regulatory approvals. Both companies stand to benefit from this union, which will expand QMS’ market share and provide MediaWorks with new growth opportunities. The merger aligns with the strategic objectives of both companies and is anticipated to yield mutual benefits for advertisers and consumers alike. As the media industry continues to evolve, this acquisition positions QMS and MediaWorks as key players in the region’s media landscape.
Ultimately, the consolidation of these two media entities marks a significant development in New Zealand’s media industry. The synergy created by this merger is expected to enhance the offerings and capabilities of both QMS and MediaWorks, providing advertisers with a comprehensive platform to engage with audiences across various media channels. With the completion of this acquisition, the future looks promising for MediaWorks, QMS, and the broader media market in Australia and New Zealand.