Nine Entertainment to Acquire QMS for $599M, Divest Radio Assets to Focus on Digital Growth

Nine Entertainment Co. (ASX: NEC) announced on January 30, 2026, it will acquire digital outdoor advertising firm QMS Media for A$850 million ($599 million), while divesting its radio division and transitioning regional TV operations to an affiliate partner to prioritize higher-growth digital assets. The transaction marks a strategic pivot toward scalable digital revenue streams amid declining traditional media demand. Nine expects the move to enhance margins and align its portfolio with evolving advertiser preferences. The deal is subject to regulatory and shareholder approvals. Proceeds from the radio asset sale will partially fund the acquisition. Nine did not disclose financial terms of the regional TV transition. The company reaffirmed its FY2026 EBITDA guidance post-announcement.