WPP Sells Stake In oOh!media For $66M Ahead Of Adshel Acquistion
It appears oOh!media’s impending acquisition of rival Adshel and its positive half-year results weren’t enough for WPP to continue investing in the outdoor media company.
WPP has decided to offload its stake of more than five per cent in oOh!media to investment bank Goldman Sachs for $66 million.
An oOh!media spokesperson told B&T: “WPP, through Cavendish Square Holdings, has been a long-term shareholder of oOh!media and a big supporter of our strategy that is seeing us evolve from an old medium to a new media.
“We were not surprised by their decision given the company has been upfront about exiting non-core investments in recent times in order to refocus on the business, including the sale of its investment in digital platform AppNexus, and it did not take up its rights for more shares in the recent raising.
“We look forward to welcoming new shareholders to our books as we continue to execute on our business strategy.”
WPP declined to comment when contacted by B&T.
The move by WPP comes after the Australian Competition and Consumer Commission cleared oOh!media’s proposed acquisition of Adshel for $570 million just last week. Furthermore, oOh!media posted positive profit and revenue results for the first half of 2018.
Latest News
Levi’s Appoint UM As Global Media Agency For $217m Account
The world’s most famous jean brand has picked UM as its global media agency after working with the firm for four years in the US. As published by Campaign US, the IPG Mediabrands agency was named Levi’s media agency of record in the US, Canada and Mexico in 2019 following a review. Omnicom Group’s OMD. […]
QMS Nabs Sean Rigby From oOh!media
QMS has today announced the appointment of Sean Rigby as national trading and partnerships director. Rigby departed oOh!media as group revenue director earlier this year and will replace the role left by former general manager – trading, John Glynn. He will join QMS in quarter four 2024 and will be based in Sydney. With over […]
Bumble Reveals New Brand Identity To Usher In New Era Of Dating
Today, women-first dating app Bumble unveiled a refreshed visual identity and a new global campaign, underscoring the company’s continued commitment to making dating better for women. The campaign coincides with the dating app expanding upon its signature Make The First Move functionality with the launch of Opening Moves. After a decade of revolutionising the way […]
Stay In The House From Up! Airbnb Introduces Icons
Experiential marketing is going from strength to strength as brands seek to connect with consumers in a world overflowing with content. Today Airbnb is taking this trend one step further with the launch of Icons, a new category of extraordinary experiences hosted by the greatest names in music, film, television, art, sport, and more. Icons let […]
Changing The Conversation: The Role Of Media In Ending Violence Against Women
It’s flooded our screens for weeks now, the faces and names of the countless women killed and the hands of a partner or man known to them this year alone. Latest reports suggest a 30% spike in the rate of Australian women killed by intimate partners last year. It’s an epidemic, and despite the nearly […]
“If You Want To Listen To Something Else, Go For It”: Fifi Box On Blocking Out The Noise & Focussing On What Works
In the wake of the launch of the Kyle and Jackie O Show in Melbourne, there has been much discussion about what this might mean for the existing programs down south. However, the city’s current number one Breakfast show, 101.9 The Fox’s Fifi, Fev & Nick, is not letting the noise get to them. Fifi […]
Spotlight On Sponsors: Ferrari Signs Landmark New Title Sponsor
Ferrari has signed a landmark deal with HP ahead of this weekend’s Miami Grand Prix. Meanwhile, the Cronulla Sharks are prioritising mental health this weekend with their inaugural GotchaForLife Mental Fitness Round. Welcome back to B&T’s Spotlight on Sponsors series, where we break down all the major sponsorship news from inside the sporting world. B&T unpacks all […]
History Has Arrived: It’s The Cairns Crocodiles Inaugural Shortlist
Like the second coming of Christ, The Cairns Crocodile Awards presented by Pinterest has been at the top of the advertising, marketing and media industry’s collective mind since we announced it back in 2023. Now, we’re but one more step away from crowning the very first round of winners with this the revealing of the […]
Choose A Path Less Trodden This Cannes In Cairns
Don’t be basic. Think creatively and you shall reap the benefits of Cannes in Cairns. “We want brands!” “We want the CMOs!” We heard you and we acted. The content slate at this year’s Cannes in Cairns, presented by Pinterest, is packed to the rafters with some epic brands and top marketing talent. But that’s […]
Cannes In Cairns MC Keeva Stratton Shares Her Top Session Picks
Self-professed nerd and one of four top Cannes in Cairns, presented by Pinterest MCs, Keeva Stratton has a front-row seat to some fascinating minds and fierce debates. But who should you put on your must-see, must-hear list? Here, B&T grabs five with the Quip agency founder, who will be helming the lecture in the Rainforest […]
Here Are The Agencies That Made AFR’s Best Places To Work List And What The Industry Can Learn From Them
Did your office not make the list? Make sure your boss shouts at least two schooners at office drinks come Friday.
Get Ready, B&T’s Best Of The Best Is Back With The Top Holding Company Executive Leaders – Creative!
Want to know who the Grandest of the Grand Poobahs in the industry are? Look no further than this exhaustive list.
How A Glittering Campaign Helped The Australian Museum Sell 400,000 Tickets
B&T thoroughly enjoyed the Ramses exhibition at The Australian Museum, despite thinking we were going to the Archibald.
TV Ratings (30/04/2024): A “Shoey” Straight From A Fish’s Mouth Launches The Cheap Seats Into 2024
Last night's TV saw horny farmers beat Lego nerds, who beat fame-obsessed home cooks, who beat a chap with a large fish.
Spotlight Extends Partnership With Starlight Children’s Foundation
B&T always happy to promote the excellent work of the Starlight Foundation. Less so the Starfish Fanciers Foundation.
Amazon’s Advertising Quarterly Revenue Soars To $11.8bn
There are so many Amazon couriers visiting B&T headquarters at the moment our office dog doesn't know who to maul first.
VML Wellington Welcomes Jacob McGregor As Pou Ārahi Māori
McGregor set to lead cultural competency and safety at VML Wellington in important new gig.
“They Grow Up So Fast”: Simon Fowler On Five Years Of ABEL
Abel's CEO talks lessons learned from the agency's first five years. Including staff nicking all the Nespresso capsules.
Kyle & Jackie O Urge Melbourne To Pick A Side
Who can stop Kyle & Jackie O's indelible march into Melbourne radio? Is Peter 'Moony' Moon waiting by the phone?
Future & Taika Waititi Feature In Striking New Global Belvedere Campaign
Not only does drinking vodka make you cool like these dudes, it also has great weight loss properties for the bone idle.
The Fall Of Bonza: A Case Study In How To, And Not To, React In A Crisis
Does the collapse of yet another budget airline hark back to a gentler time of 17 hours spent on a Greyhound bus?
Opinion: Agencies, Be Unique – Stop Using The Word “Unique!”
Trinity P3's Ellie Angell says agencies are overusing the word unique. You could add omnichannel & holisitic to that.
Ex Marketing & Advertising Exec Releases Melanoma Memoir
Ex-adlander Anne Gately has penned a tome to skin cancer. Which is a handy reminder to check your moles, people.
Mamamia Appoint Danni Wright As New Head Of Strategy
Danni Wright takes up Mamamia's strategy reins with a feng shui expert called over positioning of office chaise lounge.
From The Bureau: Championing Competency & Cross-Industry Collaboration
The IAB's Jonas Jaanimagi calls for more specialisation in adtech. Meaning you'll understand it less than you already do.
Rumble Nabs Renee Park From Cutting Edge
Rumble has recruited Renee Park as one of its new sound designers. And it's only right to make some noise about it.
iD Collective Teams Up With City Of Parramatta To Amp Up NRL Fan Experience
Adland's often lampooned for never going further west than Surry Hills. So this Parramatta news is welcome indeed.
Slew Of New Hires At The Company We Keep
The Company We Keep announces new hires. Here's hoping it doesn't impact the RBA's interest rate decision.
UnDigital Announces Brand Refresh Helping Clients Achieve More Than 600% Sales Increase
Warning - this headline comes with some obscene bragging. Much like the B&T editor's 5/8 in the weekend footy tipping.
Microsoft Advertising: “We Make The Complicated Simple”
Microsoft ads wants to make the complicated simple. The total opposite to Korean restaurant menus & the recent Yes vote.
TV Ratings 29/4/24: Farmer Wants A Wife And Lego Masters Lock Horns In Overnight’s Battle
Who won the battle of the big guns - Lego or Farmer Wants A Wife? One thing's for sure, it wasn't Great Train Journeys.
Nielsen Data Reveals Brands Spending Big To Attract Aussie Tourists
Nielsen Ad Intel data has revealed that the travel and tourism industry spent more than $153 million on advertising in Australia in Q1, 2024 – an increase of 8 per cent from the previous quarter, with TripADeal the biggest spender, followed by Virgin Australia, then the Flight Centre-owned Ignite Travel. As many Australians return from […]
IAS Awarded New Responsible AI Certification From Trustarc
Integral Ad Science tossing up over the mahogany or teak frame after being awarded TRUSTe Responsible AI Certification.
AWARD Calls For Hall Of Fame Nominations
B&T's noms for AWARD Hall of Famer includes Louis The Fly, Chums' talking Scottie dog & Mumbrella's coke dealer.
Havas Red Wins PagerDuty PR Account
Havas Red wins PagerDuty's PR. And judging by B&T having to Google PagerDuty, it could probably do with some help.
ACA Poised To Release Results Of 2023 Create Space Census
The Advertising Council unveils date for its census results. Hey, why not coincide it with an office lamington drive?