Tuesday Wake-Up Call: Sorrell acquires MediaMonks, Kroll out at MillerCoors and more
Welcome to Ad Age's Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. You can get an audio version of this briefing on your Alexa device. Search for “Ad Age” under “Skills” in the Alexa app. What people are talking about today: He's done it: Martin Sorrell has succeeded in his bid to buy Dutch digital production company MediaMonks.
The acquisition for an undisclosed sum by Sorrell's S4 Capital was confirmed early this morning in an announcement to the London Stock Exchange. Shareholders of MediaMonks, which has revenues of $129 million, will receive cash and shares in S4 Capital. S4 describes the deal as a “merger” and says its objective is to “provide clients with digital services, which are agile, efficient, and of premium creative quality.”
In a statement from MediaMonks (in which Sorrell is described as a “Senior Monk”), Sorrell states: “This represents a significant step in building a new age, new era, digital agency platform for clients. MediaMonks' roots are totally in new media, and data, content and technology. Our next moves will be to build this platform further and to add meaningful data analytics and digital media buying. The company will be a unitary one with MediaMonks as its core.”
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