Digital out-of-home (OOH) media leader QMS has announced it will acquire 100% of Oaktree Capital Management’s stake in MediaWorks, one of New Zealand’s largest media companies. The move strengthens QMS’ footprint in the region and marks a major milestone in its long-standing relationship with MediaWorks.
The combined business now represents one of the largest diversified media operators in the Asia-Pacific, with significant reach across radio, digital, and OOH platforms in both Australia and New Zealand.
Trans-Tasman expansion and audience scale
MediaWorks boasts more than 600 staff across 25 offices, 10 market-leading radio stations, 92 digital billboards, and over 200 static sites nationwide. It reaches up to 3.5 million New Zealanders each week, or 85% of the population.
QMS CEO John O’Neill said the acquisition presents new growth opportunities and streamlined planning for clients looking to activate campaigns across the Tasman.
“With market-leading media platforms on both sides of the Tasman, we see immense opportunity for growth, including new trans-Tasman trading opportunities for our agency partners and clients,” O’Neill said.
MediaWorks CEO Wendy Palmer welcomed the news, calling it a natural evolution of the companies’ partnership since 2019:
“Together, we are bigger, stronger, and better positioned to deliver market-leading audiences to clients across the region.”
Growth investment and future outlook
The transaction is expected to close in Q2 CY2025, pending regulatory approvals. As part of the deal, fresh funding lines will be established for MediaWorks, providing greater flexibility for investment and innovation across its media platforms.
Barclay Nettlefold, chairman of QMS and MediaWorks, said the acquisition aligns with upcoming OOH tender opportunities in New Zealand:
“This deal allows us to build on QMS’ reputation in digital OOH and MediaWorks’ strength in radio and digital, delivering stronger outcomes for clients and accelerating growth.”