American private equity firm I Squared has won the bidding war for Australian out-of-home giant oOh!Media. It also values oOh!Media higher than the $850 million Nine paid for outdoor rival QMS earlier this year. The oOh!Media board has unanimously recommended shareholders vote in favour of the offer. has developer an impressive portfolio of out-of-home media infrastructure assets in a growing market. The offer must now be approved by oOh!Media shareholders in October and market regulators in Australia and New Zealand.