QMS Media Limited (ASX:QMS) agreed to acquire 39 billboard assets from Total Outdoor Media Pty Ltd for AUD 14.5 million on February 6, 2017. The assets will be acquired in tranches. The acquisition will be funded by existing cash and debt facilities. The transaction is expected to complete not later than December 31, 2017. The assets will start contributing earnings during financial year 2018 as they are progressively acquired by QMS Media. The transaction is forecast to be earnings per share accretive for QMS Media shareholders. Sarah Kerr of Nightingale Communications acted as the public relations advisor for QMS Media Limited. David Schiavello and Roberta Foster of MinterEllison acted as a legal advisor to Total Outdoor Media. Hive Legal Pty Ltd acted as the legal advisor to QMS Media in this transaction. QMS Media Limited (ASX:QMS) completed the acquisition of 39 billboard assets from Total Outdoor Media Pty Ltd in the year ended 30 June 2018.