WPP to acquire Filmworks China via GroupM subsidiary

British multinational advertising and public relations company WPP has agreed to acquire Filmworks China, an entertainment marketing agency in China, through its global media investment management arm GroupM.

British multinational advertising and public relations company WPP has agreed to acquire Filmworks China, an entertainment marketing agency in China, through its global media investment management arm GroupM.

This investment continues WPP's strategy of developing its services in fast-growing and important markets and sectors.

Filmworks' unaudited revenues for the year ended December 31st 2011 were approximately RMB 12m, with gross assets at the same date of approximately RMB11m. It has a blue-chip client list that includes Electronics Arts, DreamWorks, TCL Television, Li Ning and Yili Group.

Greater China remains one of the fastest growth markets for WPP and is currently WPP's third largest market with revenues of $1.3bn and 14,500 people including associates.

The deal is subject to regulatory approval. WPP's share price was up 0.29% to 876.50 at 09:31.

MF

Recommended

Broker safety – your questions answered
Investment strategy

Broker safety – your questions answered

Cris Sholto Heaton answers more of your questions about the safety of stockbroker accounts
25 Mar 2020
How demographics affects stock valuations
Investment strategy

How demographics affects stock valuations

New research suggests that stock and bond valuations are driven by the age of the population – at least in the US.
24 Feb 2020
Do you own shares in Sirius Minerals? Here’s what you need to do now
Stocks and shares

Do you own shares in Sirius Minerals? Here’s what you need to do now

Mining giant Anglo American has proposed a cash takeover of Yorkshire-based minnow Sirius Minerals. Unhappy shareholders must decide whether to accept…
20 Feb 2020

Most Popular

A simple way to profit from the next big trend change in the markets
Investment strategy

A simple way to profit from the next big trend change in the markets

Change is coming to the markets as the tech-stock bull market of the 2010s is replaced by a new cycle of rising commodity prices. John Stepek explains…
14 Jan 2021
Forget austerity – governments and central banks have no intention of cutting back
Global Economy

Forget austerity – governments and central banks have no intention of cutting back

Once the pandemic is over will we return to an era of austerity to pay for all the stimulus? Not likely, says John Stepek. The money will continue to …
15 Jan 2021
Here’s why markets have shrugged off the US political turmoil
Investment strategy

Here’s why markets have shrugged off the US political turmoil

Despite all the current political shenanigans in the US, markets couldn’t seem to care less. John Stepek explains why, and what it means for your mone…
7 Jan 2021
Free 6 issue trial then continue to