WPP Group PLC
22 November 2001
FOR IMMEDIATE RELEASE 22 November 2001
WPP GROUP PLC ('WPP')
Acquisition of Global Sportnet in Germany
WPP announces that it has conditionally agreed to acquire 100% of the issued
capital of Global Sportnet Beteiligungs GmbH ('Global Sportnet'), the leading
independent sports marketing agency specialising in the acquisition and
marketing of broadcasting and advertising rights for European football clubs
and associations.
Founded in 1995, Global Sportnet is based in Hamburg and employs 16 people.
Current TV rights agreements include the Greek Football Association in respect
of the Greek national football teams' matches, Juventus FC, FC Internationale
Milan, SL Benfica, Rangers FC, Celtic FC and a further 100 clubs in Europe.
Global Sportnet had revenues of DEM 25.9 million for the year to 31 December
2000. Global Sportnet will become a member of WPP's Branding & Identity,
Healthcare and Specialist Communications division.
The acquisition of Global Sportnet continues WPP's strategy of establishing a
leadership position in the faster growing sectors of communications services.
The acquisition, which is expected to complete in January 2002, is conditional
inter alia on the approval of the German Federal Cartel Office.
For more information, please contact:
Feona McEwan, WPP London 44 20 7408 2204
www.wpp.com
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