19th Mar 2007 12:58
WPP Group PLC19 March 2007 FOR IMMEDIATE RELEASE 19 March 2007 WPP GROUP PLC ("WPP") WPP acquires stake in MRC in the US WPP announces that it has acquired 6.8% of the issued share capital of MediaRights Capital II L.P. ("MRC"), a company that specialises in the financing andmonetisation of elite content across film, television, mobile and broadband. Founded in 2004, MRC has offices in Los Angeles and New York. Other keyinvestors include Goldman Sachs and AT&T. The gross assets acquired at the dateof investment were US$2.75 million. This investment further strengthens WPP's capabilities in premium and commercialcontent, an area of strategic importance in light of the increasingfragmentation of media, the exploding number of entertainment choices, thechallenges facing traditional media and the growing importance of leveragingcontent to break through and reach new audiences. It follows recent investmentsby WPP in The Weinstein Company, Bob and Harvey Weinstein's new film company,and WildTangent, the leading online Game Publisher. Contact:Feona McEwan, WPP T + 44 (0)20 7408 2204 www.wpp.com This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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