EURO GIANT BUYS 1ST U.S. MEDIA SHOP: VSM MEDIA ACQUISITION WILL FORM BASIS FOR NORTH AMERICAN NETWORK.

Advertising Age, September, 1998 by Bidlake, Suzanne

[london] In the first step of a two-year plan to build a string of regional offices across the U.S., Tempus Group has bought VSM Media, New York.

The acquisition is part of Tempus' goal to be one of the world's top six media buying networks by 2001.

Already Europe's second-largest independent media communications group, the holding company for CIA Medianetwork is expected to pay $14.7 million over three years for VSM, a medium-size shop with billings of $220 million.

Its clients include Guinness, Volvo, Barnes & Noble and J.P. Morgan Co.

Also last week, the group announced the purchase of Paris-based media independent Le Lab SA, to be renamed CIA Medianetwork Le Lab.

The U.S. agency will be renamed CIA VSM Media and will form the first...

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