Indiantelevision.com's Media, Advertising, Marketing Watch
 
WPP buys online ad co. 24/7 Real Media for $ 649 million
 

Indiantelevision.com Team

(18 May 2007 5:00 pm)

 

MUMBAI: Capitalizing on the booming digital internet space, advertising and marketing behemoth WPP Group has reportedly acquired online advertising company 24/7 Real Media for $649 million.

24/7 Real Media will operate as a standalone company within WPP. It will continue to service ad agencies that are not part of WPP.

The global phenomena of advertising monies shifting from traditional to new media has led WPP to also move into the online advertising domain. The move comes in the wake of big monies chasing online properties which are taking away audiences from traditional media. The two most recent examples are Google's acquisition of DoubleClick for $3.1 billion last month to strengthen presence in display ads and the Publicis Groupe's $1.3 billion acquisition of Digitas in January.

 

 
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