Speculation is circling in the market that Quadrant Private Equity Pty Limited is in talks to sell the sports advertising arm of QMS Media Limited to a buyer based in the US. It comes at a time of suggestions that Quadrant could be looking to sell QMS after only buying the business last year in a scheme of arrangement-style takeover deal for $571.6 million. The QMS sport division includes TGI Sport, which it purchased in 2018 and advertises at international sports stadiums through broadcast and digital technology, infrastructure, event presentation, game day operations and fan engagement. Market experts said a sale of the sports arm was no surprise, given that it was considered to attract a very different pool of buyers to the remaining outdoor advertising operation. Despite being hard hit by the pandemic, under Quadrant’s watch, QMS has won some lucrative outdoor advertising contracts and may float this arm of the operation next year.