The World: New York - Interpublic and WPP acquire stake in Spot Runner

WPP and Interpublic Group have each acquired stakes in the internet-based advertising agency Spot Runner.

The agency, founded in 2004, offers a self-service system that allows businesses to cut both time and costs from the TV advertising production process - from commercial production to planning and buying.

WPP, who has bought a 3.2 per cent stake, will use its online platform to assist clients in targeting ads locally.

Sir Martin Sorrell (pictured), the chief executive of WPP, said: "Spot Runner's practical and cost-effective solutions are a great complement to our national capabilities. It will help our clients market at the most local level."