WPP Becomes Strong Competitor With The Purchase Of 24/7 Real Media
In an attempt to catch up to the competition, the WPP Group, an advertising holding company that owns such ad firms as Grey Global Group and JWT, has aquired 24/7 Real Media for $649 million. Martin Sorrell, chief executive of the WPP has claimed that this aquisition is an effort not only to expand the group, but also to potentially balance out the marketplace since Google’s massive purchase of DoubleClick for $3.1 billion.
Sorrell has been known to refer to Google as a “frienemy” according to Dave Morgan,former chief executive of Tacoda which was aquired by 24/7 Real Media.”He wants Google to view him as a frienemy, too. He has now given his response, which is that he’s not going to just sit and wait and see what happens. He’s going to take an aggressive position against a world where Google and Yahoo will dominate.”
According to Sorrell with this aquisition the WPP will be able to develop a third line of business in the online technology space using of 24/7 Real Media. Currently, WPP as well as other ad holding companies make of their money by creating ads and planning where they should appear. 24/7 Real Media manages a search optimization business, a business that delivers ads online, and a network of web sites that display ads. WPP plans to go beyond creating ads to focus on web surfers with ads based on their specific interests.
Not only will this give WPP stronger hold in a market where advertising companies are losing grip on ad sales due to large brands such as Johnson and Johnson and Proctor and Gamble moving more of their advertising money online, but it will also give the WPP the opportunity to catch up to Publicis Groupe, a French ad holding company and major competitor of WPP, who aquired Digitas for $1.3 billion in December.
Reader Comments.
It’s an interesting deal but doesn’t really give Martin much hold in the search business which is where the moneys at, certainly not in the UK at least.
According to Sorrell with this aquisition the WPP will be able to develop a third line of business in the online technology space using of 24/7 Real Media. Currently, WPP as well as other ad holding companies make of their money by creating ads and planning where they should appear. 24/7 Real Media manages a search optimization business, a business that delivers ads online, and a network of web sites that display ads. WPP plans to go beyond creating ads to focus on web surfers with ads based on their specific interests.
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