oOh!media, APN Outdoor merger likely to be completed in July
By M4G Bureau - April 20, 2017
The combined entity will become Australia's largest outdoor operator, with more than 50% market share.
The $1.6 billion merger between Australian OOH majors oOh!media and APN Outdoor is now expected to be completed by July this year. The Australian Business Review has reported that the merger will create “Australia’s largest outdoor operator, with more than 50 per cent market share, and 8985 digital and 63,200 non-digital billboards and screens.”
The combined entity will be larger than the Seven, Nine and Ten television networks by market capitalisation.
Addressing APN Outdoor shareholders at the firm’s annual general meeting, chairman Doug Flynn said he expected oOh!media to put the transaction to its shareholders for a vote in late June to enable implementation in July.
“The deal is subject to approval by the competition watchdog, whose indicative decision date is due on May 4, 2017,” the report stated.