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

The top funds to invest in
Funds

The top funds to invest in

As market volatility and recessionary fears continue, here are the most popular funds, stocks and trusts investors are putting their money into
2 Mar 2023
The ten highest dividend yields in the FTSE 100
Income investing

The ten highest dividend yields in the FTSE 100

Rupert Hargreaves takes a look at the companies with the highest dividend yields in the UK’s blue-chip index
27 Feb 2023
The outlook for Shell shares is mixed, despite bumper profits
Energy stocks

The outlook for Shell shares is mixed, despite bumper profits

With profits surging, it looks as if Shell is on a roll, but the company’s growth from here is hard to see as Rupert Hargreaves explains.
6 Feb 2023
The top ten dividend stocks in the FTSE 250
Share tips

The top ten dividend stocks in the FTSE 250

The average FTSE 250 dividend yield is around 4%, but many stocks yield much more. Rupert Hargreaves picks the best FTSE 250 stocks for income investo…
17 Jan 2023

Most Popular

5 top UK tech stocks
Investments

5 top UK tech stocks

The UK market has never been considered a fertile hunting ground for tech stars. But there are plenty of promising companies beyond the old economy, s…
23 Mar 2023
Where will house prices go in 2023?
House prices

Where will house prices go in 2023?

We explore what could happen to house prices in 2023 as the market continues to slow down.
24 Mar 2023
Will energy prices go down in 2023?
Personal finance

Will energy prices go down in 2023?

Ofgem’s price cap is now predicted to fall below £2,000, based on average typical use, from July, for the first time since 2022. We have all the detai…
21 Mar 2023