Nine Swaps Microphones for Billboards in $850 Million Strategic Reset

Nine Entertainment Co. has announced  a shift in its media ecosystem, announcing the $850 million acquisition of digital out-of-home (OOH) leader QMS Media from Quadrant Private Equity.

To fund the pivot, the group has simultaneously divested its heritage talk radio portfolio, including Sydney’s 2GB and Melbourne’s 3AW, selling the assets to the Laundy Family Office for $56 million.

The reason behind the reshuffle, part of the “Nine2028” transformation strategy led by CEO Matt Stanton, is a decisive move away from legacy broadcast economics toward high-growth digital platforms.

By exiting the structurally challenged radio sector and doubling down on OOH, Nine expects digital assets to contribute more than 60% of group revenue by FY27.

For advertisers, the acquisition creates a “sofa to street” proposition, allowing Nine to bundle its premium video and publishing data with QMS’s 95% digital outdoor network.

Commenting on the shift, Nine CEO, Matt Stanton, said: “Today’s announcements mark a critical milestone in our Nine2028 transformation”

“These transactions will create a more efficient, higher-growth, and digitally powered Nine Group… combining our premium assets in streaming and publishing with QMS’s leading outdoor assets,” Stanton said.

Chief media partnerships officer at Omnicom Media Group, Marelle Salib , noted that the play allows agencies to “architect a brand story” that follows a consumer from their morning commute (QMS) to their evening news (9Now).

Transaction Economics & Portfolio Optimisation

The twin deals represent a net investment of approximately $601 million after accounting for tax benefits and divestment proceeds.

Nine is paying an effective multiple of 6.5x CY26 EBITDA ($105m). The deal includes the lucrative City of Sydney and Auckland Transport contracts.

The $56 million sale to billionaire hotelier Arthur Laundy includes 2GB, 3AW, 4BC, 6PR, and 2UE. Despite the exit, Nine will maintain a “digital audio” presence via podcasts and 9Now.

Nine has also converted its regional NBN Television station into an affiliate operated by WIN Network, receiving $15 million in cash.

Don’t miss out on the latest in sports business – Subscribe today to the free Ministry of Sport newsletter and stay ahead of the game. For even more exclusive insights, event tickets, professional development and networking events, become a MoS Member today!.