Saatchi name prominent as Publicis make $55m move on M&C Saatchi firm
More details on the proposed Publicis Groupe purchase of a majority stake in London-based Walker Media, which is 75% owned by M&C Saatchi.
M&C Saatchi: Founded by brothers
Eighteen years ago brothers Maurice and Charles Saatchi broke away from the agency they founded in 1970 to form M&C Saatchi. Publicis Groupe today own Saatchi and Saatchi.
The proposed deal comes as Publicis and Omnicom have have pushed back the target date for their mega-merger from "first quarter" to "first half" of next year.
The new deal, said to be worth $55 million reportedly values Walker Media at $75 million.
M&C Saatchi will retain a significant stake in Walker Media, alongside Publicis Groupe's majority stake.
Walker Media clients include Fox, KFC, Taco Bell, Sony Entertainment, Mandarin Oriental, Marks & Spencer, and the National Geographic Channel.
Publicis confirmed that it is "in discussions with M&C Saatchi in relation to Walker Media, which may involve the purchase of a significant part of that business.
“There can be no certainty that an agreement will be reached and a further announcement will be made in due course."
M&C Saatchi and Walker Media have more than ten separate media brands in the U.K., suggesting that media consolidation might be a priority for what might become the world’s largest advertising group, said AdAge.