WPP to Buy Minority Stake in IR Media Ventures
October 27 2017 - 10:23AM
Dow Jones News
By Maryam Cockar
WPP PLC (WPP.LN) said Friday that it will buy a minority stake
in IR Media Ventures Corp., a U.S. digital media company that
produces content for parents, for an undisclosed sum.
The FTSE 100-listed advertising company said the investment in
IR Media is part of its strategy to focus on its technology, data
and content offering.
The transaction is part of a round of Series A financing by IR
Media, and other investors include Bertelsmann SE & Co. KGaA,
United Talent Agency Inc, Lerer Hippeau Ventures Management LLP and
SoftTech VC, WPP said.
Shares in WPP were down 21 pence, or 1.6%, to 1,305 pence at
1352 GMT.
Write to Maryam Cockar at maryam.cockar@dowjones.com
(END) Dow Jones Newswires
October 27, 2017 10:08 ET (14:08 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
WPP (NYSE:WPP)
Historical Stock Chart
From Aug 2024 to Sep 2024
WPP (NYSE:WPP)
Historical Stock Chart
From Sep 2023 to Sep 2024