OOh!media

Last updated

oOh!media
Formerly
  • Outdoor Network
  • Network Limited
Type Public
ASX:  OML
Industry Advertising
Founded1989
FounderBrendon Cook
Headquarters Sydney, Australia
Key people
 Cathy O'Connor (CEO)
Products Outdoor advertising
Revenue$380 million [1]  (2017)
$33 million [1]  (2017)
Subsidiaries Junkee Media (85%)
Website www.oohmedia.com.au

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.

Contents

History

The company was founded in 1989 as an advertising site representation business called Outdoor Network Australia by Brendon Cook. [2] The company listed on the Australian Securities 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 $40 million deal. [5]

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

In December 2014, the oOh!media was floated once again on the ASX, raising $169 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 $11 million. [11] It acquired the remaining 15% several years later. [12]

In 2017, oOh!media planned to merge with rival APN Outdoor, however was aborted after the Australian Competition & Consumer Commission raised preliminary concerns. [13]

In June 2018, oOh!media purchased street furniture business Adshel for $570 million from Here, There & Everywhere, in a competitive bidding war against rival APN Outdoor. [14]

In January 2020, founder Brendon Cook announced he would step down as MD and CEO. [15] Cathy O'Connor was announced as the new CEO in August 2020. [16]

In December 2021, oOh!media sold Junkee Media to RACAT Group. oOh!media retained Junkee’s branded content and production arm, Junkee Studio. Junkee Media CEO Neil Ackland remained at oOh!media. [12]

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References

  1. 1 2 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. 1 2 3 "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. 1 2 Ward, Miranda (7 December 2021). "oOh!Media offloads Junkee Media to RACAT Group". Australian Financial Review. Retrieved 9 December 2021.
  13. ↑ Doctor, Daisy (19 May 2017). "APN and Ooh! scrap merger, slam ACCC intervention". Ad News. Retrieved 26 May 2018.
  14. ↑ Kelly, Vivienne (23 June 2018). "Ooh Media to purchase HT&E's Adshel for $570 million". Mumbrella. Retrieved 23 June 2018.
  15. ↑ Blackiston, Hannah (28 January 2020). "Brendon Cook to step down as CEO and MD of Ooh Media". Mumbrella. Retrieved 3 November 2020.
  16. ↑ Carmody, Broede (31 August 2020). "Nova's Cathy O'Connor to replace oOh! Media CEO Brendon Cook". The Sydney Morning Herald. Retrieved 9 December 2021.
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