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July 10, 2008
July 10, 2008
WPP Goes Hostile for TNS, With Counter-Offer from GfK
German market research group GfK is putting together a cash offer for rival firm TNS (Taylor Nelson Sofres), in response to a hostile bid from Martin Sorrell's WPP launched yesterday.
WPP has offered £1.1 billion ($2.1 billion), after previous offers were snubbed by the company's board.
In response, GfK has issued a release stating it is terminating its own proposed merger with TNS, which has been in discussion since April, and will pursue "a proposal which would involve an alternative all-cash offer being made" with anonymous financial backing.
Although talks are still in early stages, GfK says it has received "strong indications of interest in such a transaction."
WPP made a significant step into the online ad arena with its acquisition of 24/7 Real Media last year, and TNS's online media research capabilities could complement 24/7's range of digital ad offerings, which include search marketing and a display ad network.
While some have suggested that the $2.1 billion price tag overvalues TNS in such a cautious financial climate, others believe market research will remain relatively healthy in an economic slump, fuelled by the concerns of nervous advertisers looking to validate campaign decisions.
Posted by Jack Marshall at 4:58 PM | Permalink | Comments (0) | TrackBack
U.K.'s Telegraph Newspaper to Monetize International Audience
U.K. publisher Telegraph Media Group (TMG) is following its competitors' lead, and seeking to monetize the non-U.K. readership of its main online property, Telegraph.co.uk.
According to MAD.co.uk, the group has signed a deal with global ad sales house AdGent 007 to sell its non-U.K. inventory to international advertisers.
Measurement firm ABCe says around two thirds of Telegraph.co.uk's 18.4 million unique visitors in May came from outside of the U.K.
Brian Harrison, digital director of Telegraph Media Group is reported to have said, "This deal is about gearing up to monetize this audience and begin exploiting the opportunities of overseas markets." He added that users in the U.S. make up the majority of the sites non-U.K. readership.
Harrison also hinted the deal could lead to the creation of specific content and features tailored to overseas users.
TMG competitors Times Online and the Guardian Media Group (GMG) both made similar moves recently. Times Online opened a U.S. sales office, while GMG signed a deal with Reuters<./a>, allowing it to sell its U.S.-aimed online inventory.
Posted by Jack Marshall at 11:24 AM | Permalink | Comments (0) | TrackBack
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