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
Eyeota Enhances Reach And Targeting Precision For RDA Research
Leading Australian market research data brand, RDA Research, provides actionable consumer intelligence to help businesses inform decision making and growth strategies. RDA Research wanted to make its unique consumer data available for addressable digital targeting and required a data onboarding partner to help activate their data in an online environment.
Enthral Strengthens Journalistic DNA By Hiring Channel 7 Reporter Sean Sowerby
Storytelling agency Enthral has appointed Channel 7 reporter and sports presenter Sean Sowerby as its new senior PR and content manager in Melbourne. Sowerby (pictured) started his award-winning career at 3AW before spending more than 15 years in television. Enthral founder and manager director, Cameron Smith, spoke of the significance of Sowerby joining the agency. […]
“I Congratulate You On Behalf Of The People Of New South Wales.” Fitzy & Wippa Ring In 10 Years With Praise From NSW Premier
This week Nova’s Fitzy & Wippa are celebrating 10 years of their iconic radio show and plenty of famous faces have weighed in on the feat! For Fitzy & Wippa’s 10-year anniversary show they were joined by a bunch of special friends who shared their messages and favourite memories over the last decade. The guys […]
Harper’s Bazaar Australia Relaunches With The Bold & Breathtaking Nakkiah Liu
Harper’s Bazaar announces triumphant return, as newsagents now have more than scratchies & $12 birthday cards to sell.
Pippa Leary Joins News Corp As Managing Director Of Client Product
Industry veteran Pippa Leary's impressive resume enters its fourth page after latest News Corp move.
Blis Puts Its CEO In The Desert In Clever New “Data Drought” Ad
Ever since Google first announced it would be getting rid of third-party cookies on Chrome, digital advertising businesses have been actively sharing their plans for life after cookies. And now programmatic advertising company Blis might have come up with the most creative way to get the message across, in a new video which sees company […]
Week 36 VOZ Rating: The Voice Tops Total People, While Bluey Big On BVOD
B&T now running weekly VOZ reports, which are not to be mistaken with our SNOZ reports of adlanders with large noses.
Free TV’s Sarah Waladan Joins IAB Australia As Director of Policy And Regulatory Affairs
Sarah Waladan says her IAB policy & regulatory affairs role doesn't involve watching Law & Order: Special Victims Unit.
Agency Icon Sweeps The SABRE Awards
Integrated Melbourne agency Icon has taken top honours in the 2021 SABRE Awards, winning the coveted Australasian Consultancy of the Year for 2021 along with a host of category and craft awards. Icon led a large field of Australian agencies with a total of three major and seven minor awards, including gold in the cause-related […]
Thursday TV Wrap: Gogglebox Tops Entertainment, But Making It Australia Dips
Making It Australia dips. As in its audience numbers declined, not some contestant making French onion.
The Australian’s Travel + Luxury Moves To Bimonthly Publishing
When you think travel, do you think Contiki, Kuta or the Goldie? Best to give Travel + Luxury magazine a wide berth.
Chicken Chain Parodies US Lawyer Ads In A Spot So Terrible It’s Crispy Delicious
If Cannes Lions had a "so bad it's good" category, then this chicken advert should be preparing an acceptance speech.
Domain Acquires Insight Data Solutions In A Deal That Could Be Worth $159 Million
Want to have your life completely overtaken by real estate agents selling dodgy units? Domain makes it a click away.
JCDecaux Ups Digital Large-Frame Network By 25%
JCDecaux announces 35 new large-format billboards. Good news for the myopic, bad news for those with stiff necks.
Apple Calls In Oscar-Winning Director For iPhone’s Homage To Movie Making
Sure, Apple may not have launched anything new in the past 15 years, but its iPhone upgrades are undoubtedly impressive.
Tim Blackwell Celebrates 20 Years With The Nova Network
Tim Blackwell remains remarkably sag and eye bag-free considering his two decades of 4am starts.
New MOOD ‘Tea Break’ Webinar Will Focus On Alcohol & Mental Health
Has BWS awarded you platinum membership during lockdown? This important industry webinar could prove beneficial.
James Bond Ditches The Martinis To Star In New Work For Heineken
With all the killing, escaping collapsing buildings & wrestling sharks, it's no wonder 007 has an issue with the sauce.
Piers Morgan Heads Down Under In New Murdoch Deal
As if Guardian & SMH readers haven't got enough to complain about, Piers Morgan's TV show is coming to Australia.
BCM Group Launch National PR & Social Agency IVY
New PR agency IVY launches & promptly declares "PR has an image problem". Hopefully they said it while drinking Moët.
True Triads: The Secrets To Thriving Agile Teams In A Distributed Working World
Learn secrets to thriving agile teams in a distributed working world. And, no, that's not a chapter from Orwell's 1984.
Billie Eilish Leveraged The Met Gala To Get A Designer To Stop Using Fur
Other than mafia bosses, 50 Cent and Grizzly Adams, does anyone actually wear fur any more?
“I Got Hooked!” Boomi’s Stephanie Dechamps On The Endless Possibilities Of Data
Don't get Boomi's Stephanie Dechamps started on data, data and more data. B&T did just that and this is what happened.
Tony Armstrong Clears Up OnlyFans Rumours
Tony Armstrong is having one of those weeks you just want to forget. Or remember, depending on your sense of humour.
CommBank & Cricket Australia Extend Partnership
CommBank and Cricket Australia extend partnership. Apparently "section 12, clause D" deals with all things sandpaper.
Former Agency Execs Launch Car Service Summon
Former agency executives Tim O’Neill and Tim Fouhy have launched the auto technology startup Summon. Australia’s first full e-commerce service for prestige cars. O’Neill and Fouhy both founded Reactive, a digital agency, which was bought by Accenture in 2016. Following the deal, O’Neill and Fouhy ended up leading the company’s digital marketing arm, Accenture Interactive before […]
Hootsuite Shares The Top Social Media Trends Of The Tokyo 2020 Paralympic Games
Yes, this 2020 Paralympics social media trends report is a little late. But then again, so were the 2020 Paralympics.
Coco-Cola Australia Unveils New Recipe & New Look
Coke rolls out latest new look & new recipe. Despite having a checkered history of rolling out new looks & new recipes.
So Media Group Acquires Social Media Company Carma The Social Chameleon
Perth-based digital media publisher So Media Group has completed the acquisition of fellow Perth-based social media marketing ag
SCA Appoints ABC Executive Melanie Withnall To Head Of News & Information
SCA snares ABC radio veteran Melanie Withnall who brings with her 18 years' experience & an "I Love Ita" coffee mug.
