Outdoor media company QMS Media has revealed plans to undertake a "strategic realignment" of its business, as it looks to strengthen its market position.
The announcement follows the decision for QMS NZ to merge with Mediaworks in New Zealand to establish the largest media business in the country.
As part of the alignment, QMS will split its business out into three core segments which include, QMS Media, Mediaworks and QMS Sport.
QMS Media will continue to lead the digital out of home assets, MediaWorks will manage all NZ operations and QMS Sport, led by former media boss Mark Pejic, will work to grow the digital sports technology, infrastructure and media rights business.
According to the business, the new approach seeks to allow the investment community to "fully understand the value of each segment and its contribution to the overall value to the portfolio".
QMS will also undertake an evaluation of its sports business opportunities, considering further options to accelerate growth both locally and internationally.
"Our vision for QMS Sport is to establish a powerful global sports technology, infrastructure and digital media platform, with the scale to drive incremental growth and shareholder value," QMS group CEO Barclay Nettlefold said.
CLSA Australia has been appointed to undertake the review of the options for the QMS Sports business.
QMS chairman Wayne Stevenson said the strategic alignment signified a "great opportunity" to evaluate the structure and performance of the businesses portfolio.
"The board has made it a priority to examine our options to maintain our competitive advantage and enhance our business model to provide structural and financial clarity, and the flexibility to fund and manage future growth opportunities," he said.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.