Publicis buys out M&C Saatchi's 75% stake in Walker Media
Publicis Groupe has acquired a majority stake of over 75 per cent in Walker Media from M&C Saatchi and will see it become part of an internal media group, alongside ZenithOptimedia.
The acquisition will see the agency retain 24.9 per cent of its shares although it will remain a separate agency within the ZenithOptimedia Group from next year, now comprising of around 500 staff worldwide.
Walker Media's board members will be Phil Georgiadis, chairman of Walker Media, Simon Davis, CEO of Walker Media, Steve King, CEO of Worldwide, ZenithOptimedia, Adrian Sayliss, COO of Worldwide, ZenithOptimedia, David Kershaw, CEO of M&C Saatchi and Jamie Hewitt, group finance director, of M&C Saatchi.
Steve King, said: “Walker Media is the biggest and most successful independent media agency in the UK and we are absolutely delighted to welcome them to the ZenithOptimedia family. The agency was built and developed on the principle of client centricity and its incredible success is testament to this. I have known Phil Georgiadis for many years and I couldn’t think of a better person to lead our new media network in the UK.”
Phil Georgiadis, added: “Simon and I feel the time is right to expand our offering globally whilst keeping our core proposition intact, and we identified ZenithOptimedia as an organisation who could support that vision brilliantly. We are delighted with the prospect of being part of the ZenithOptimedia Group and of being the UK agency of an exciting new international network brand.”
Walker Media was founded by Georgiadis and Christine Walker in 1998, and has 130 members of staff.
Last week, GreenSquare's Barry Dudley took a look at the it's and out's of the deal when rumours began to surface.