3rd Nov 2005 15:40
WPP Group PLC03 November 2005 FOR IMMEDIATE RELEASE 3 November 2005 WPP GROUP PLC ("WPP") VML acquires majority stake in Studiocom in US WPP announces that its wholly-owned operating company VML, the leading marketingtechnology company, has acquired an 80% stake in Studiocom, a leading digitalmarketing services agency. Founded in 1999 and headquartered in Atlanta, Georgia, Studiocom has offices inLos Angeles, California and Bogota, Colombia. Studiocom has 55 full timeemployees. Studiocom's clients include American Cancer Society, The Coca-ColaCompany, Mattel, PBS, Philips Consumer Electronics, SABMiller, Sony Digital,Turner Broadcasting System, and Twentieth Century Fox. Studiocom's unaudited revenues for the year ended 31 December 2004 were US$4.4million, with net assets at closing of US$0.7 million. This investment continues WPP's strategy of developing its networks in fastgrowing markets and sectors. Contact: Feona McEwan, WPP 44-20 7408 2204www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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