Shares in oOh!media have plummeted more than 40 per cent to a near four-year low after the outdoor advertiser blamed poor media advertising spend for a cut to its full-year earnings guidance.

The company, which also owns online masthead Junkee, on Friday said it expects underlying earnings for the 12 months to December 31 of between $125 million and $135 million.

It had previously flagged a rang...