Sorrell-WPP War Escalates As Lawyers Called And $36 Million Payout Withheld
Sir Martin Sorrell’s departure from WPP has descended even further after lawyers for the company he founded were called in.
Sorrell, of course, left WPP abruptly in April amid allegations of impropriety and he has since manoeuvred to start his own media business apparently in direct competition with WPP’s offerings.
His first potential takeover target was a $536 million buyout of the Dutch-based digital production business MediaMonks. However, MediaMonks is fielding offers from a number of other potential buyers, including WPP.
WPP believes that Sorrell’s overtures towards MediaMonks are “likely to be in breach of his confidentiality obligations” when he left the business and its lawyers have said it will withhold £20 million ($A36 million) in future payouts Sorrell is owed by WPP if he progresses with any potential takeover.
When Sorrell left WPP under a cloud of personal misconduct it was deemed he’d retired and would be paid the $36 million over the next decade based on payouts relating to share awards.
Both Sorrell and WPP have declined to comment on the matter thus far. However, Sorrell’s lawyers are disputing the claims and asking for WPP to provide evidence for its allegations.
The 74-year-old Sorrell had previously said that he would not compete against WPP, however, industry commentators think that is highly unlikely due to his competitive nature.
Sorrell has labelled his next venture as a “next generation” advertising group and is reportedly building a £1 billion ($A1.8 billion) war chest from investors to start and future-proof the project.
Latest News
Remote Controlled Volkswagen Toy Car Delivers Euro Game Ball & Social Media Can’t Get Enough
This stunt proves a great idea will usurp a massive budget every time. Although blowing massive budgets is far more fun.
Sunday TV Wrap: Nine’s News & Celeb Apprentice Top Rankings, But Seven Steals The Win Overall
There's no better place to be on a Sunday than on the couch in your PJs & UGGs. Just remember not to go out in public.
“Come The F@ck On!” Fury As Man Charged $18 For Two Ice-Creams As Flake Shortage Grips UK
It's not one but two sweary headlines on B&T today. Let's say the office swear jar is starting to look f@cking full too.
“Repeat, This Is Not A Joke!” Adani Releases Climate Action Corporate Video!
As a warning, this could get the blood boiling. Unless you're one of those horrendous climate denying pains in the arse.
Facebook Joins Forces With Lifeblood To Launch New Blood Donations Feature
Facebook unveils important blood donating feature. But don't worry, it already knows if you're A, B, AB negative or 0.
Twilio Segment Launches Journeys To Help Marketers Improve Personalisation
Is your marketing personalistion proving as popular as being sneezed on on public transport? Well, don't blow this off.
New Zealand’s Favourite Ad Revealed
It's a public holiday in many parts of Australia today, hence why B&T's made the editorial decision to run any old shit.
Google Pays “Undisclosed Sum” For Amateur iPhone Shot Of A Seagull Eating A Chip For Latest Campaign
There is NOTHING worse than swooping seagulls stealing your hot chips. Well, aside from clowns or Tony Abbott, that is.
It’s Time To Refocus Customer Experience In The Era Of Risk
You could spend the Queen's Birthday holiday scoffing $1 hot dogs at IKEA or enriching the mind with this probing piece.
After 12 Months Of Lockdown, NSW Youngbloods Return With First Event Of 2021
Judging by this Youngblood industry event, adland's relationship with the booze industry appears as rock solid as ever.
Influencer Exposed For Faking Business-Class Flight
Admittedly, B&T has never faked a business-class flight, however, we regularly lie about the mile-high club.
“I Won’t Come To Your Workplace & Start F@cking With You!” TV Reporter Unloads On Hecklers During Live Cross
Revenge is a dish best served cold, yet this journo serves it with some fiery jalapeños & a squirt of Sriracha sauce.
A Naked Shane Jacobson Saves Water For Sydney Water
If it's got Shane Jacobson you're guaranteed good fun. Well, maybe not 'Charlie & Boots' which was f@cking terrible.
Aussie Eco-Soap Company ‘Single Use Ain’t Sexy’ Makes Big Debut With Crowdfunding Campaign
Would you like something more sustainable on your pits, goolies or general orifi? This eco-soap company may rate.
Software Giant Refuses To Pay Queer Artist For Their Work As Part Of Pride Month Campaign
Software giant in strife for not paying queer artist. And, as you'll read, it's not one of the usual software giants.
Aussie Shoe Brand TWOOBS Embraces Anti-Marketing In Push For More Consumer-Conscious Shopping
The TWOOB appears to be Australia's answer to the Croc. Yet, that's not to infer it's taking the UGG's hideous title.
Visit Sunshine Coast Hires New Head Of Marketing
Visit Sunshine Coast hires new head of marketing. Insists wearing a Maroons jersey & loving Powderfinger not essential.
“You’re All Creeps!” Hunky Channel Seven TV Reporter Inundated With Female Admirers (But Are The Comments Kosher?)
This poses the serious question: should only attractive people appear on TV? And it's an unequivocal 'yes' from B&T.
GHO Sydney And Family Planning NSW Launch ‘Planet Puberty’ Platform
GHO Sydney has developed a new educational platform for Family Planning NSW to help parents and carers of children with disabilities navigate the changes to their bodies, emotions and social interactions. The project, ‘Planet Puberty’, was made possible through funding from the federal government’s Department of Social Services, and was co-designed with people with disability […]
Nike Misspells Own Name In Embarrassing Sneaker Mix-up
Nike's just one of those brands that never seems to put a foot wrong. So this cock-up's a wonderfully refreshing change.
Kyle Sandilands Reveals He Turned Down $1.4 Million To Appear On 10’s ‘I’m A Celeb…’
To be on 'I'm a Celeb...', it seems you only need to know, have slept with or lived on the same street as a celebrity.
Hinge And Uber Combine To Help Connect Single Dog Owners
Apparently a dog is one of the best things to add to your dating profile. Well, apart from a mansion and a Ferrari.
REMINDER: Entry Deadline For Women In Media Awards Is Fast-Approaching!
Female? Work in media & advertising? Is your work often considered "the boss" or "the bee's knees"? Enter here & pronto.
Visa Announces Natalie Lockwood As New APAC Marketing VP
Do you own four maxed-out Visa cards? You could blame Natalie Lockwood or you could blame internet shopping & Uber Eats.
Liberal Politician Threatens To Sue The Chaser
It appears you can be sued for making jokes about politicians. Hence why B&T has refrained from making any jokes here.
Sydney Swans Raise Bowel Cancer Awareness Alongside The Jodi Lee Foundation
Nothing says "bowel health" like a diet of fresh fruit & veggies. Sadly, however, that doesn't include lychee daiquiris.
Ampol Launches Fundraising Campaign With The Smith Family
Great to see a petrochemical company with a good heart. Helps distract from all that "global warming" press, doesn't it?
Fashion Brands P.E Nation And Camilla Called Out After Wheelchair Runway Fail
It wouldn't be a Fashion Week without controversy. This time, however, it's nothing to do with everybody not eating.
Kleenex Exhibits Care In ‘Real Softies’ Via electriclimefilms And R/GA
Once again, toilet paper is hogging the headlines. And if COVID's given us anything marvellous, it's given us that.
BWS Brings Convenience To Aussies Via M&C Saatchi Sydney & Dentsu
Here's some terrific new work for BWS. Still, let's be honest, even if it was godawful we'd still shop there regardless.
