WPP Group PLC
09 November 2006
FOR IMMEDIATE RELEASE 9 November 2006
WPP GROUP PLC ("WPP")
WPP acquires stake in internet advertising agency, Spot Runner, in US
WPP announces that it has agreed to acquire 3.2% of the issued share capital of
Spot Runner, Inc. ("Spot Runner"), the first internet-based advertising agency.
Spot Runner's revolutionary approach to commercial production, media planning
and media buying services makes it easy and affordable for local businesses to
advertise on TV. Founded in 2004 and based in Los Angeles, California, Spot
Runner employs 100 people. Spot Runner's gross assets at the date of investment
were US$10 million. Clients include Sotheby's, Caldwell Banker, Century 21 and
ERA.
This investment continues WPP's strategy of developing its networks in fast
growing markets and sectors and strengthening its capabilities in digital media.
It follows investments by WPP, announced earlier this year, in Visible
Technologies (which helps brands manage their internet reputations), Wild
Tangent (an online game publisher with in-and around-game advertising
capabilities) and LiveWorld (provider of online community and social networking
services).
Contact:
Feona McEwan, WPP
T. + 44 20 7408 2204
www.wpp.com
This information is provided by RNS
The company news service from the London Stock Exchange
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