Havas takes full control of Media Planning
brandrepublic.com, Monday, 22 January 2001 12:00AM
Havas Advertising is to take full control of the media planning and buying network, the Media Planning Group, in a deal that will see it swap Havas shares for the 55% of the company it does not own.
LONDON (Brand Republic) - Havas Advertising is to take full control of the media planning and buying network, the Media Planning Group, in a deal that will see it swap Havas shares for the 55% of the company it does not own.
Under the terms of the agreement, which was approved by the Havas board of directors on January 19 2001, Havas will issue 28.8m new Havas Advertising shares and €51m (£32.53m) to fund the deal. The deal will give the shareholders of Media Planning -- Rhodes Family, Grupo March, BBVA and BSCH -- 9.3% of the share capital of Havas Advertising.
Media Planning will continue to operate from its headquarters in Barcelona with a reduced board of directors and with Leopoldo Rodes Castane as chairman and Fernando Rodes Vila as chief executive officer. Rodes Vila has also joined the Havas board.
Alain de Pouzilhac, chairman and chief executive officer of Havas, said, "We are very excited about this new step in our relationship with Media Planning Group. Through almost two years of partnership with Media Planning Group, we have learned that we share a common philosophy and culture, and the same drive for excellence in servicing our clients.”
Media Planning was created in March 1999 out of the merger of two media buying agencies, Mediapolis and Media Planning.
This article was first published on brandrepublic.com
- SENIOR ACCOUNT MANAGER - INTEGRATED B2B AGENCY Live Recruitment Negotiable, London
- Direct Marketing Executive Stopgap £26000 per annum, London
- Account Manager- Integrated Creative Agency Spectrum 360 Recruitment £26k - £33k, London (Central), London (Greater)
- PROJECT MANAGER - LONDON - £30-40K + BENEFITS Salt £30000 - £40000 per annum + Benefits, London
- Brand Manager Ball & Hoolahan £42,000 + Car/Car Allowance, London (Central), London (Greater)
- Katharine Viner becomes first female editor-in-chief of Guardian News & Media
- Why Viacom spent £120m extending Channel 5's Big Brother deal for three more years
- Tesco media review pits Initiative against MediaCom and ZenithOptimedia
- Comparethemarket.com offers two for one cinema tickets with Meerkat Movies
- Google's European leader says viewing habits are 'changing dramatically'
- Campaign Viral Chart: Robert Downey Jr features in chart topper