Publicis Is Close to Buying Walker Media in London
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Publicis Groupe, awaiting approval for a merger with Omnicom Group, isn’t slowing its fast-paced acquisitions drive. The company confirmed today that it is on the verge of buying of a majority stake in London-based Walker Media, which is 75% owned by M&C Saatchi.
The proposed deal, thought to be worth $55 million, values Walker Media at $75 million. It would indirectly link M&C Saatchi with Publicis Groupe’s Saatchi & Saatchi once again, 18 years after Maurice and Charles Saatchi broke away acrimoniously from the agency the brothers founded in 1970. M&C Saatchi will retain a significant stake in Walker Media, alongside Publicis Groupe’s majority stake.
Walker Media, founded in 1998 and run by chairman and co-founder Phil Georgiadis with CEO Simon Davis, has a strong pedigree in the U.K., but has few clients in common with M&C Saatchi. Its clients include Fox, KFC, Taco Bell, Sony Entertainment, Mandarin Oriental, Marks & Spencer, and the National Geographic Channel.
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