News

Ooh Media to raise $167m in equity and eyes savings of over $30m

Hannah Blackiston

March 26, 2020 5:37

Outdoor media company Ooh Media has announced it will undergo a fully underwritten equity raising round of $167m.

HMI Capital, a San Francisco-based private equity firm, is one of the companies involved in the exchange and its founder and managing partner Mick Hellman will join the Ooh Media board as a non-executive director. HMI has committed to sub-underwriting up to $17.7m, which could leave it with a quarter of the Ooh Media business, increasing its stake from 19% to 25%.

Outgoing Ooh Media CEO Brendon Cook will stay with the business until the end of 2020

Be a member to keep reading

Join Mumbrella Pro to access the Mumbrella archive and read our premium analysis of everything under the media and marketing umbrella.

Become a member

Hannah Blackiston

Hannah Blackiston was the deputy editor of Mumbrella. She worked with the company from March 2019 to November 2020.

Topics

Brendon Cook coronavirus COVID-19 HMI Capital Mick Hellman Ooh Media outdoor advertising

Latest

Nielsen MD Monique Perry sacked, set to sue for unfair dismissal

Vinyl chief operating officer Joel King departs

Unmade Index feels the global wobble, beats ASX

Change afoot at Omnicom: TBWA’s Lisa Brown to lead Australia production

Ritson: Despite Snoop and Katy, Menulog's collapse was inevitable

Get the latest media and marketing industry news (and views) direct to your inbox.

Sign up to the free Mumbrella newsletter now.

"*" indicates required fields

First Name*

Last Name*

Email*

Position*

Industry sector*

Location*

SUBSCRIBE

Sign up to our free daily update to get the latest in media and marketing.