Top firm brokers trans-Tasman media deal
A trans-Tasman merger deal between Kiwi broadcaster, MediaWorks and QMS New Zealand will create the newly combined QMS and MediaWorks as the largest multi-media advertising group in the country. The deal structure is at the forefront of global industry trends and is a first in New Zealand.
Top firm MinterEllisonRuddWatts advised MediaWorks on the innovative deal. The deal will see ASX-listed outdoor advertising company QMS take a 40 per cent stake in MediaWorks, with MediaWorks’ current owner, Oaktree Capital, retaining 60 per cent.
MediaWorks Chief Executive Michael Anderson will be CEO of the merged group.
Corporate Partner, Mark Forman led the top tier firm’s deal team, working alongside the MediaWorks legal team (led by Alex Nicholson) and Oaktree Capital, helping to broker the merger of the MediaWorks and QMS New Zealand business.
“We’re delighted to have assisted MediaWorks in reaching this transformational agreement, enabling it to provide integrated advertising solutions across four platforms – TV, radio, online and outdoor media,” says Mark Forman.
The transaction is subject to a number of matters including OIO approval.
Janine Brennan-Lynch, Marketing Communications Manager
Phone +64 9 353 9828 Mobile +64275 128 821
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