International advertising group WPP has acquired a 30% stake in the Spanish television company Mediapro for an undisclosed sum.
Mediapro is based in Barcelona and specialises in television rights and production. It employs 1,000 people and had revenues of €160 million for the year ended December 31 2002. The company has operations in Spain, France, Portugal, Netherlands, the US and Hungary.
In addition to today’s acquisition, WPP is bidding to take control of the UK advertising group Cordiant Communications (see Cordiant Shares Suspended Amid Takeover Fight).
