Marketing and advertising giant WPP has unveiled plans to set up a new company to coordinate its internet and new media activities across all its subsidiary companies.
The group said it would set up the new wpp.com business as a parent company to oversee the group’s new media activities at all its operations, which include advertising agencies Ogilvy & Mather and J Walter Thompson.
WPP said the new venture would aim to add value to the group’s new technology operations and “accelerate the development of our interactive capabilities and revenues”.
At the same time, WPP unveiled pre-tax profits up 20% to £112.6 million for the six months ended 30 June 1999.
WPP: 0171 408 2204
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