Nine up, Ooh down as market digests big QMS move
The market showed its approval of Nine’s $850m purchase of QMS, while spurning the latter’s out-of-home rival Ooh Media, in a generally good day on the Unmade Index.
It was a big day for media news. As well as laying out the QMS purchase, Nine announced it had sold its radio business to the Laundy Group, a pub and hospitality network, and was offloading its regional TV business NBN to Win.
Nine Radio fetched a nice price — $56m — for an enterprise that Nine says was going to make it $6m in EBITDA in 2026. Nine was up 5.05% at the end of the day, joined by Sports Entertainment (+5.77%), Vinyl (+3.57%), Southern Cross (+1.59%), Ive (+0.67%), Motio (+2.04%), and Pureprofile (+1.96%).
The news wasn’t so good for Ooh. It lost 3.86% in the face of its biggest competitor teaming up with the biggest broadcast and publishing outfit in the country. The other thing to bear in mind is that Nine definitely won’t be buying Ooh any more, if that was ever a consideration.
Enero was down 3.88%, with ARN also falling 2.63%.
All those moves led to a decent recovery on the Unmade Index, which is ending the week up 1.79% at 443.9
