24th May 2019 09:15
LONDON (Alliance News) - FTSE 100-listed advertising firm WPP PLC was in talks with Target Corp to sell its Triad Retail Media to the US retailer, the Wall Street Journal reported on Thursday.
Citing "people familiar with the matter", WSJ explained Target is looking to boost its digital advertising business. The sources emphasised, however, that the talks were preliminary and could break down.
WPP acquired Triad in 2016 for around USD300 million, WSJ noted. Triad sells advertising space on retail websites and other digital properties.
No potential valuation for any deal from the current talks has been specified.
https://www.wsj.com/articles/target-looks-to-acquire-wpps-retail-ad-firm-triad-11558640459
Shares in WPP were 0.9% higher at 955.20 pence on Friday.
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