oOh!media

oOh!media Limited (sometimes written as Ooh!media, oOh! Media or simply Ooh!) is an Australian outdoor advertising and media company based in Sydney, Australia. The company was founded by Brendon Cook as Outdoor Network Australia in 1989, and is one of Australia's largest operators of out of home advertising products and is also the majority shareholder in Junkee Media.

oOh!media

Formerly	Outdoor Network Network Limited
Type	Publicly Listed Company, (ASX: OML)
Industry	Advertising
Founded	1989 (1989)
Founder	Brendon Cook
Headquarters	Sydney, Australia
Key people	Brendon Cook (CEO)
Products	Outdoor advertising
Revenue	A$380 million[1] (2017)
Net income	A$33 million[1] (2017)
Subsidiaries	Junkee Media (85%)
Website	www.oohmedia.com.au

History

The company was founded in 1989 as an advertising site representation business called Outdoor Network Australia by Brendon Cook, who continues to serve as CEO.[2] The company listed on the Australian Stock Exchange (ASX) in 2002 as Network Limited (ASX:NWK), rebranding as oOh!media in 2008, following the acquisition of Melbourne-based firm Media Puzzle.[2][3][4] Also in 2008, it acquired regional advertising company Sports & Outdoor Media in a A$40 million deal.[5]

In 2012, oOh!media was privatised by Champ Private Equity and WWP, under the parent company Outdoor Media Operations Pty Ltd.[6][7] Shortly after being privatised, the company acquired EYE Corp from Ten Network Holdings for A$145 million[8] (which was later reduced to A$113 million).[9]

In December 2014, the oOh!media was floated once again on the ASX, raising A$168.8 million for its shareholders, which prior to listing were Champ (75.5%), WPP (20.3%) and the remainder by management and other stakeholders.[10][2]

In 2016, oOh!media purchased 85% of Junkee Media for A$11 million.[11]

In June 2018, oOh!media purchased street furniture business Adshel for A$570 million from HT&E, in a competitive bidding war against rival APN Outdoor.[12]

Proposed merger

In 2017, oOh!media had planned to merge with rival outdoor advertising company APN Outdoor, but both sides cancelled their plans due to preliminary concerns from the Australian Competition and Consumer Commission.[13]

References

1. Gandiya, Kevin (19 February 2018). "Why oOh!Media Ltd shares are climbing as it delivers double digit profit growth". Fool.com.au. Retrieved 19 June 2018.
2. "oOh!media Prospectus" (PDF). oOh!media. Retrieved 19 June 2018.
3. "Network Outdoor: too big for its boots" (PDF). Pacific Internet. 2005. Retrieved 19 June 2018.
4. Ward, Miranda (18 December 2003). "Ooh Media reports increase in revenues and appoints new chief operations officer". Mumbrella. Retrieved 19 June 2018.
5. "oOh!media makes $40m buy". AdNews. 11 July 2008. Retrieved 19 June 2018.
6. "oOh! Media agrees to Champ takeover". AdNews. 13 December 2011. Retrieved 19 June 2018.
7. "Macquarie and WPP accept Ooh Media offer". Australian Financial Review. 13 December 2011. Retrieved 19 June 2018.
8. Janda, Michael (20 July 2012). "Ten sells EYE Corp ad business for $145m". ABC News. Retrieved 19 June 2018.
9. "Eye Corp to be integrated into oOh!media brand as sale finally goes through". Marketing Mag. 1 November 2012. Retrieved 19 June 2018.
10. "oOh! Media shares plunge on ASX debut". The Australian. 17 December 2014. Retrieved 19 June 2018.
11. Hayes, Alex (24 June 2018). "Ooh Media buys Junkee Media in surprise move". Mumbrella. Retrieved 19 June 2018.
12. Kelly, Vivienne (23 June 2018). "Ooh Media to purchase HT&E's Adshel for $570 million". Mumbrella. Retrieved 23 June 2018.
13. Doctor, Daisy (19 May 2017). "APN and Ooh! scrap merger, slam ACCC intervention". Ad News. Retrieved 26 May 2018.

External links

Official website