QMS to acquire full stake in MediaWorks New Zealand from Oaktree Capital

QMS has agreed to acquire Oaktree Capital Management’s full stake in MediaWorks, in a move that will consolidate its presence in New Zealand and expand its trans-Tasman media footprint. 

The deal will give QMS ownership of one of New Zealand’s largest media companies, which includes 10 radio stations, 92 digital billboards and more than 200 static billboards, engaging 3.5 million New Zealanders weekly across radio, digital and out-of-home. The transaction is expected to close in Q2 2025, pending regulatory approvals. It also includes the establishment of new funding lines to provide MediaWorks with greater investment flexibility. 

QMS CEO John O’Neill said the acquisition strengthens the group’s long-term commitment to the New Zealand market and opens new trans-Tasman opportunities for advertisers.

“With market-leading media platforms on both sides of the Tasman, we see immense opportunity for growth, including new trading opportunities for agency partners and clients to strategically plan and buy OOH at scale,” O’Neill said.

The two companies have worked closely since 2019, with QMS already holding a stake in MediaWorks. MediaWorks CEO Wendy Palmer said the move marks a significant milestone for the business.

“Together, we are bigger, stronger, and better positioned to deliver market-leading audiences to clients across the region,” Palmer said.

Barclay Nettlefold, Chairman of both QMS and MediaWorks, said the deal aligns with upcoming out-of-home tender opportunities in New Zealand.

“By leveraging QMS’ leadership in digital OOH in Australia and MediaWorks’ strength in radio and digital, we’re well placed to accelerate growth and deliver strong outcomes for clients,” he said.