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Wednesday, May 29, 2024

Outdoor media merger

oOh!media and APN Outdoor Group confirmed in mid-December the two companies would merge to create a leading diversified media group.

The merger, subject to shareholder approval, should take effect in April and will lead to a diversified out-of-home and online media group in Australia and New Zealand with a long-term and diversified asset base across classic, digital and online formats

This includes a portfolio of claimed industry-leading digital assets with the opportunity to benefit from digital and content capabilities across an enlarged asset base.

The merged business will combine complementary portfolios and data capabilities with a service offering across key out-of-home formats and an enhanced geographic presence.

The merged group’s FY16 pro-forma EBITDA was calculated at $171 million, with significant value accretion to be shared by both shareholder groups. The merger is forecast to achieve cost synergies of at least $20 million annually.

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