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LONDON (Alliance News) - Media buying giant WPP PLC Thursday said its wholly-owned companies, GroupM and Kantar Media have entered into agreements with Rentrak, the US-based film and television measurement company.
GroupM is a media investment management company and Kantar Media, its media research and analytics business.
In a statement Thursday, WPP said it will inject Kantar Media's US television measurement business into Rentrak in exchange for USD98 million of Rentrak's common stock.
WPP said it also will directly purchase shares in Rentrak for USD56 million in cash, giving WPP a total interest, direct and indirect, in Rentrak of 16.7%.
Rentrak will integrate its national and local TV measurement with a number of Kantar's US-based services that focus on digital media and purchase data. It said it will provide US advertisers, agencies, TV networks and local TV stations with even more powerful tools to understand consumers' TV and purchasing habits.
WPP shares were trading 0.1% higher early Thursday afternoon at 1,166.00 pence.
By Rowena Harris-Doughty; rowenaharrisdoughty@alliancenews.com; @rharrisdoughty
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