QMS receives capital return of $38m after merger with Media Works in NZ

Outdoor advertising company QMS has completed its New Zealand merger with independent radio, TV and digital business Media Works.

The merged entity now has the largest audience in New Zealand, and has also entered an unconditional agreement to acquire ETC Media’s premium Christchurch digital billboard portfolio, adding 12 large-format digital billboards to its existing portfolio, the company said.

QMS and Media Works’ merger builds the network share for the final entity