The Week: People news - Walker to sell her stake

Christine Walker is set to net around £8.5 million from the sale of her remaining 14 per cent stake in Walker Media.

Walker, who has sold the stake to M&C Saatchi ahead of her departure in June, will receive £6.3 million in cash and a further £2.2 million in M&C Saatchi shares. The amount could be adjusted, depending on Walker Media's 2007 profits.

Walker Media launched in 1997 as a 50/50 joint venture with M&C Saatchi, which acquired a further 25 per cent stake in 2004. Phil Georgiadis, who will run the agency following Walker's departure, will keep his remaining shares in Walker Media.