Poster Publicity and Portland Outdoor to merge in WPP plan
campaignlive.co.uk, Friday, 09 July 2004 12:00AM
WPP is to acquire a majority shareholding in the outdoor buyer Poster Publicity and merge it with its own specialist Portland Outdoor.
The move will see the Poster Publicity and Portland Outdoor names disappear in favour of an as yet unnamed global brand.
The acquisition of Poster Publicity by one of the major communications groups has been expected for some time and the company has been in negotiation with WPP for several months.
Although not yet legally finalised, the deal will increase WPP's global reach of offices and allow it to compete more effectively with Aegis Media's Posterscope, which is the biggest poster specialist in the world.
Eric Newnham, the chairman and chief executive of Poster Publicity, said the ownership of the new company would be split evenly between WPP and the Poster Publicity shareholders, and the company would be run as a joint venture.
The seven shareholders, which include Newnham and the European managing director, Mike Segrue, would then be subject to an earn-out process, after which WPP would be able to acquire the remaining stake. Newnham would not say how long the earn-out period would be.
This article was first published on campaignlive.co.uk
- Affiliates Executive - No. 1 Agency! GoodEgg Digital Circa £25k + Exceptional Benefits, Central London
- Digital Display Manager - Leading Agency GoodEgg Digital £Neg + Great Benefits, South East England / London (Central), London (Greater)
- Senior Marketing Director - 9-12 month FTC Comedy Central £competitive, Camden, London (Greater)
- PR Manager Fashion & Retail Personnel Consultancy £35000 - £40000 per annum + benefits, London
- Digital Planner Buyer - Revolutionary Media Agency!! Ultimate Asset £22000 - £25000 per annum + Bonus + Benefits , City of London
- FT to reveal first design overhaul in seven years
- Philips launches campaign for app-controlled lightbulbs
- Sorrell warns of Scotland becoming an 'outlier' and the UK 'diminished' by a Yes vote
- Notonthehighstreet.com launches brand campaign
- Publicis boss Maurice Lévy to step down in 2017 amid board shake-up
- 18 Feet & Rising wins Skoda digital brief