MediaWorks completed the merger with QMS Media in a NZ$36m deal.

MediaWorks, a New Zealand-based television, radio and interactive media company, completed the merger with QMS Media, an outdoor media company in Australia and New Zealand, in an NZ$36m deal. QMS merged its NZ out-of-home, digital media and production businesses into MediaWorks and in return received a 40% shareholding in the expanded MediaWorks business. Funds managed by Oaktree Capital Management will retain a majority 60% shareholding. "For QMS, this merger reinforces our prudent management of assets and realises value for shareholders from our investments in New Zealand. The transaction will allow us to continue to create further opportunities to unlock value for shareholders and further accelerate our growth in a consolidating environment." Wayne Stevenson, Chairman of QMS Media Limited