find the latest legal job
Senior Associate - Litigation & Dispute Resolution
Category: Litigation and Dispute Resolution | Location: Melbourne CBD & Inner Suburbs Melbourne VIC
· Come work for a firm ranked in Lawyers Weekly Top 25 Attraction Firms
View details
Associate - Workplace Relations & Safety
Category: Industrial Relations and Employment Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Employer of choice · Strong team culture
View details
Freelance Lawyers
Category: Banking and Finance Law | Location: All Perth WA
· Freelance opportunities through Vario from Pinsent Masons
View details
Freelance Lawyers
Category: Other | Location: All Adelaide SA
· • Qualified lawyer with a strong academic background
View details
Freelance Lawyers
Category: Other | Location: All Melbourne VIC
· • Qualified lawyer with a strong academic background
View details
ASX media company buys corporate advertising business

ASX media company buys corporate advertising business

Gaynor Tracey

Diversified media company oOh!media Limited has been advised on its acquisition of a large Australian corporate advertising business and associated capital raising.

Firms: Thomson Geer (oOh!media); Arnold Bloch Leibler (Executive Channel Network)

Deal: oOh!media Limited has acquired the Australian operations of Executive Channel Network.

As part of the transaction, it has undertaken a fully underwritten placement to investors of approximately 12.6 million fully paid ordinary shares to raise $60 million to partially fund the ECN acquisition.

Value: $68.5 million

Area: M&A, capital raising

Key players: The team advising oOh!media was led by Thomson Geer partner Gaynor Tracey (pictured), with assistance from partner Josh Simons, senior associates Madeleine Kulakauskas and Venks Ananthakrishnan and lawyer Eunice Leung.

The team advising ECN was led by Arnold Bloch Leibler partner Paul Rubenstein, with assistance from senior associate Jeremy Lanzer and law graduate Kelly Seo.

Deal significance: oOh!media is an operator in Australia and New Zealand's out-of-home media and advertising industry.

Executive Channel Network (ECN) operates a network of digital displays in CBD office towers and car park environments across Australia, with installations in over 280 different venues delivering real-time content and advertising.

The acquisition of ECN by oOh!media will further expand oOh!media’s inventory, bringing the number of buildings under its management to 630 and creating a combined network of more than 3,500 displays, reaching an audience of over 1.8 million per week.

oOh!media raised $60 million to partially fund the acquisition, undertaking a fully underwritten placement to institutional investors of approximately 12.6 million fully paid ordinary shares.

In addition, a share purchase plan will be undertaken to allow all eligible shareholders the opportunity to purchase up to $15,000 of new shares in oOh!media.

Kate Eastoe, general counsel of oOh!media, said: “Thomson Geer approached this acquisition with a great balance of technical capability and commercial practicality. The team acted as a single unit across the corporate, M&A and competition aspects, a credit to themselves and the firm.”

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

ASX media company buys corporate advertising business
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Oct 19 2017
‘Ego status’ compelled ex-lawyer to defraud $2.97m, court told
Debarred lawyer John Gordon Bradfield told an NSW District Court that he was driven by “ego status...
Australian Lawyers Alliance (ALA), Queensland’s new industrial manslaughter legislation,
Oct 19 2017
ALA welcomes ‘tough’ Qld manslaughter laws
The Australian Lawyers Alliance (ALA) has welcomed Queensland’s new industrial manslaughter legisl...
Legal podcasts, tune in, microphone
Oct 19 2017
Legal podcasts you have to tune in to right now
The rise of the internet has hailed in a new dawn for storytelling. Here’s our top pick of podcast...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...