PHD buys majority stake in South African agency

By Nick Batten, mediaweek.co.uk, Friday, 27 January 2012 11:00AM

PHD has formed a strategic alliance with South African media planning agency Page Three Media, taking a 70% shareholding.

Page Three Media: PHD acquires 70% stake in South African agency

Page Three Media: PHD acquires 70% stake in South African agency

Page Three managing director Anne Dearnaley and directors Lynnette Heyns and llan Lazarus will stay with the agency and retain a 30% shareholding.

The agency has billings of more than 1bn rand (approximately £80m).

It plans to establish a presence in Johannesburg under the PHD Worldwide banner, as strong as its presence in Cape Town.

Mike Cooper, CEO of PHD Worldwide, said: "We believe [Page Three] will faithfully deliver our thinking and approach to clients in South Africa. All of us across our 72-office global network are really excited to be welcoming them to PHD worldwide.

PHD recently picked up the £125m media planning and buying account for mobile handset company Sony Ericsson and won hotel group Hyatt's global digital media planning and buying business.


This article was first published on mediaweek.co.uk

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