WPP invests in financiers-to-the-stars Media Rights Capital and at first I thought this meant Martin Sorrell might die of shame after being linked with October Road. But it may be larger than that.
Media Rights' other "key investors include Goldman Sachs and AT&T....This investment further strengthens WPP's capabilities in premium and commercial content, an area of strategic importance in light of the increasing fragmentation of media...It follows recent investments by WPP in The Weinstein Company, Bob and Harvey Weinstein's new film company." Agents, producers, financiers, AT&T and WPP? Throw in the iPhone and -- omigod total world domination!
For now it's simply cozy: "WPP's GroupM did receive an undisclosed amount of ad time for clients across ABC's primetime schedule." The future, though, is a little more ambitious because at Media Rights, "information shared among partners like WPP and AT&T at the formative stages of a project...may increase its marketability later....'We get people comfortable; we get people to give us their information,' said Mr. Wiczyk." Sounds like Rohypnol may be involved but I'm sure the results will be great. If WPP's part of the deal, what could go wrong?
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