Business Services Industry
WPP in $787m web ads splurge.
Australasian Business Intelligence, May, 2007
Byline: Simon Canning
May 20, 2007 (The Australian - ABIX via COMTEX) -- WPP has indicated a future focus on the internet with the $US649m ($A787m) acquisition of search and internet advertising facilitator 24/7 Real Media. The global advertising group's strategy director and CEO of digital, Mark Read, commented that the acquisition was motivated by the needs of WPP clients, some of which were already clients of 24/7. This list includes British Airways, United Air Lines and Forbes, with 24/7 also having close connections with Google, Yahoo!, ninemsn and Sensis. The purchase has also been perceived as a reaction to the decision by major advertisers such as Procter & Gamble and Unilever to shift a substantial proportion of advertising spending from traditional...
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