The World: Milan WPP buys almost 50 per cent of Fiat Media Centre

WPP has acquired a 49 per cent stake in the Fiat Media Centre, which will now be rebranded as MC2 Mediacommunications.

The Fiat Media Centre was the in-house media company for the entire Fiat roup. It launched with billings of EUR250 million and worked on Fiat Auto (Fiat, Lancia, Alfa Romeo) as well as other companies that were at one time part of the Fiat group, such as Edison, Leroy Merlin and Juventus Football Club.

The partnership was announced in spring 2005, but it was delayed by the legal proceedings between Marco Benatti and WPP.

MC2 Mediacommunications is led by the managing director, Federico de Nardis, the younger brother of Mainardo de Nardis, the global chief executive of Aegis Media.

The Board includes Simone Migliarino as president; Lorenzo Lingua, previously the managing director of the Fiat Media Centre and current vice president.