Global communications network, Aegis Group, has acquired the media buying assets of North American agency, Independent Media Services (IMS), for $7.4 million, the group announced this morning.
IMS is a media buying agency which specialises in representing clients in the entertainment sector, specifically in motion pictures, television, cable television, newspapers and the arts.
Aegis says that the acquisition will enhance the position of its media buying division, Carat, in the ‘highly competitive’ North American market. In the UK, Carat was the third largest media agency in 2002, with billings of £564 million, according to Nielsen Media Research (see Top 10 Ad Agencies See Billings Drop, Whilst Media Agencies Rise).
