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, Sorrell announced that results at WPP for March and April were stronger than expected, hinting that interim results are going to come in above previous forecasts (see WPP Likely To Beat Forecasts As Ad Recovery Is Stronger).
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