The long-drawn-out saga over the future of the media buying agency Media Business Group has come nearer to a conclusion when a US company launched an agreed takeover bid worth nearly £28 million.
Grey Advertising is set to buy the group – known as TMBG for short – which buys newspaper advertising space and TV airtime in a £27.9 million cash offer. The newly-merged business will operate under the name MediaCom/TMBG; MediaCom is a subsidiary of Grey.
In March, TMBG revealed it was in talks with an unnamed party (see Media Business Group In Preliminary Takeover Talks), but last month it looked as though the prospect of a marriage was on the rocks when the discussions were terminated.
Media Business Group: 0171 874 5500
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