WPP Takes Share In Kemoun And Rebbouh’s Media Venture
Global advertising giant, WPP has announced that it is backing the launch of media network KR Media, which will be headed by former Aegis Media Europe chief executives Bruno Kemoun and Eryck Rebbouh.
WPP will hold a minority stake in the new European network which is set to launch in Paris in September.
WPP has agreed to give KR Media immediate access to support systems, research studies and media buying tools, although the network will be independently run by Kemoun and Rebbough, who have over 24 years experience of delivering media campaigns.
Sir Martin Sorrell, chief executive of WPP said: “We are very excited by the prospect of supporting Bruno and Eryck in their new venture and investing in it. We are certain that given their successful careers and reputations KR Media will be an extremely attractive opportunity for clients and talented people in our industry.”
Kemoun and Rebbouh met at Havas Group in 1981, then joined the Aegis group (formerly GGMD) in 1985 where they successfully built the Carat brand but jointly departed company with Aegis last November.
Last week Sir Martin Sorrell’s revelation that revenues for March and April of this year have been stronger than anticipated was taken by dealers to mean that WPP’s forthcoming financial results are likely to be higher than forecast (see WPP To Beat Forecasts As Recovery Gathers Pace).
WPP: 020 7408 2204 www.wpp.com
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