Reports: Sorrell Snatches MediaMonks Away From WPP For Cool $472 Million
Sir Martin Sorrell has reportedly beaten WPP in the race to acquire Dutch-based digital production company MediaMonks.
The UK’s Financial Times is reporting that Sorrell snared the deal with a bid of €300 million ($A472 million). According to the report, both WPP and Accenture Interactive both made offers for the company.
MediaMonks counts Audi, Mercedes-Benz and Lego among its clients and generated €20 million ($A32 million) in earnings last financial year.
Sorrell, of course, was spectacularly forced out of WPP, the business he founded, in April amid claims of impropriety.
Far from going gracefully, the 73-year-old has since been courting interest and investors in his bid to build a “next generation” advertising group that many believed (although Sorrell, himself, denied) would compete directly against WPP.
On Friday, WPP threatened Sorrell with legal action believing his acquisition of MediaMonks was “likely to be in breach of his confidentiality obligations” he signed when he left WPP. For its part, WPP has since said it will withhold £20 million ($A36 million) in future payouts Sorrell is owed by WPP if he progressed with the MediaMonks takeover.
When Sorrell left WPP under a cloud of personal misconduct it was deemed he’d retired and would be paid the $36 million over the next decade based on payouts relating to share awards. WPP also (rightly) believed Sorrell had enormous personal insight into the workings of the business and that would be detrimental if he became a competitor.
Sorrell has denied the new venture would compete with WPP and recently told the audience at Cannes last month that his new company was a mere “peanut”. However, he added: “It does occur to me that some people have peanut allergies.”
Latest News
Seven’s Upfronts: No More Plate Of Origin Or Pooch Perfect, The Olympics Is A Go, Plus An Enhanced Data Play!
It's your complete guide to Seven's Upfront; as CEO James Warburton announces new alloys & double muffler for his Audi.
Women’s Agenda To Launch New Women’s Health News Hub
A Women’s Health News Hub launches & reportedly won't be carry articles relating to the prostate or testicular health.
“Deeply Flawed”: Google Responds To DOJ Lawsuit
Google labels the DOJ lawsuit "deeply flawed". Surely, adding in "you bastards" too would've given it even more oomph.
People Are Calling This The Greatest McDonald’s Ad Ever!
B&T's labelled this "the greatest Macca's ad ever". And that's quite a call given Hamburglar, Grimace & Mayor McCheese.
Omnicom Agencies Move Beyond The Binary To Mark International Pronouns Day
Omnicom agencies are committing to move beyond the binary to mark International Pronouns Day as part of Open Pride, a global employee resource group committed to inclusion and diversity. As part of the initiative, Omnicom agencies, including DDB, PHD and Clemenger Group, have committed to ensuring all policies promote gender-inclusive language and have encouraged staff […]
“She Sacked Me!”: Roxy Jacenko Reveals SAS Australia Ended Her Relationship With Candice Warner
Sure, B&T's year-long investigation into the poo jogger may be on hold, but we're still first with all your Roxy news.
How 2020’s Black Friday Will Be Like No Other
If there was ever a time to buy more shit you don't really need (airport duty frees aside) it's gotta be Black Friday.
Each Of Us Must Contribute Beyond Our Own Patch, Says Women in Media’s Bobbi Mahlab
If there's a "wise owl" in media it's Bobbi Mahlab. That's not to suggest she's a solitary, nocturnal bird of prey.
M&C Saatchi Promotes ECD Duo To Creative Directors To Lead Tourism Australia Business
There's a lot more to an Aussie tourist ad than just Uluru, the Barrier Reef & the Opera House. Not much more, however.
High-Profile US Journo Busted Masturbating On Zoom Call With Colleagues
If there's an indiscretion guaranteed to go viral in a nanosecond it has to be "masturbation", "Zoom call","colleagues".
Indie Agency Channel T launches Brand Campaign For Liquor Retailer Cellarbrations
Bottle shop ads are much like toilet paper or toothpaste ads, we'd still buy the stuff regardless if they advertised.
Lions Live Set To Launch Second Young Lions Live Award Brief
As part of Lions Live in June, Lions Live challenged under 30s with a brief in partnership with the World Food Programme. It was free to enter, and nearly 1,000 young adlanders entered. It was such a success, Lions Live plan to run a second competition during Lions Live this week. This time the brief […]
Tuesday TV Wrap: SAS Knifes The Block, As Seven & Nine Share Rare Dead Heat
SAS proves that having lived in the street to a cousin of a D-grade celebrity is enough to get you on a reality TV show.
Are Australian Brands Missing A Subscription Opportunity?
This expert says there are top lessons in Walmart's subscription model. And not just its batshit crazy customers either.
Mindshare Boss Nick Emery “Filmed Himself With His Bottom Out” Prior To Sacking
Nick Emery's conduct has been labelled "inappropriate & offensive", but as you'll read here, it's also riotously funny.
HT&E Appoints Angela Ewers As New Chief People Officer
HT&E announces chief people officer who's job description doesn't include lifelike sex dolls or any other non-people.
Is Christmas Cancelled? Research Reveals Aussies Plan To Spend Less This Festive Season
On the upside, cancelling Xmas is top news for turkeys. On the downside, it's bad news for drunken sex with a colleague.
Russian Successfully Meddles In The New Zealand Election In Hilarious Campaign Via The Sweetshop
In what could arguably be the first time in B&T's publishing history, we're bringing you a "hilarious" election ad.
Pause Fest To Return In 2021 As Online Event
Festival for business and creativity, Pause Fest, has confirmed the event will run in 2021 – and will be its biggest to date. The 11th Pause Fest – named Changes – will migrate from its Melbourne home to the online world for the first time, running 1-12 March 2021. “Pause Fest has always been at […]
Nine Director Of News Darren Wick Charged With Drink-Driving, Blowing Over Four Times The Legal Limit
In news that will shock absolutely no one, someone in the media industry has been revealed as having an alcohol problem.
Shutterstock Adds Editorial Video Service
Shutterstock today announced the highly anticipated addition of Editorial Video, a new premium, full-service editorial video offering that is now available for license. Critical Past, Celebrity Footage and Viral Hog are just a few of the new partners who will distribute their engaging video content worldwide through Shutterstock’s Editorial Video. In addition, current partners’ epa […]
Adobe Unveils A Host Of New Innovations As Part Of Adobe Max 2020
Today at Adobe MAX, Adobe unveiled significant innovation across its Creative Cloud applications and services. In addition to ground-breaking new features like Neural Filters in Photoshop, the company released major updates to its flagship applications including Lightroom, Premiere Pro and Illustrator. Adobe also underscored its commitment to accelerating the development of mobile and multi-surface apps, with […]
The Data-Driven Revolution: Data Is The Key to Marketers’ Integral Role In Driving Business Growth
It's time to get on the "data revolution" that doesn't entail overthrowing the Tsar or guillotining the Royal family.
Cate Blanchett & Aussie Celebs Back DrinkWise’s You Got This Campaign For Year 12s Via 89 Degrees East
Sure, let's not forget HSC students in this CV-19 world, but let's not forget schoolies week ecstasy dealers either.
Breeders Choice Encourages People To Choose Better With Campaign Via The Sister & Mother Tongue Agency
Cat litter brand, Breeders Choice, produced by FibreCycle, has made a bold move to get pet owners caring more about cats’ waste with a series of animated videos featuring a new tagline and a full marketing program. The “Choose Better, Choose Ginger” campaign launched this week via a unique collaboration of independent Melbourne agencies led […]
Timboon Fine Ice Cream Celebrates 21 Wears With Rebrand Via Squad Ink
To mark a twenty-one year milestone the iconic Victorian ice cream brand, Timboon Fine Ice Cream, has revealed a modernised new look for their take home tubs. Tim Marwood, third generation farmer and founder of Timboon Fine Ice Cream, explains why the anniversary provoked the upgrade. “There’s not too many small family rural based ice […]
Study: 51% Of Aussie Professionals Don’t Feel Safe Returning To The Office
Half of professionals don't want to return to the office. 87% of unprofessionals were going to chuck a sickie anyway.
Bendigo TAFE And Kangan Institute Launch Latest Advertising Campaign – Our Heroes
Bendigo TAFE and Kangan Institute have launched their latest advertising campaign titled, Our Heroes, which is a celebration of the role their students play in the community. “Within a few short years, our students are building our houses, nursing our sick, fixing our cars, caring for our children and pets, designing our clothes – all […]
“F@ckwit Keyboard Warriors!” Roxy Slams Trollers After Abrupt SAS Australia Exit
Roxy's quit SAS Australia after just one episode. Now this wouldn't have happened had Schapelle brought the hooch.
Big W Partners With Pinterest To Launch Spring Collections Campaign
The towels and bathmats in the B&T loos are all from Big W. Admittedly, we haven't updated them from 1981, however.
