LONDON, July 31 (Reuters) - Martin Sorrell's WPP andbuyout firm Providence agreed on Friday to buy British marketinggroup Chime Communications for 374 million pounds ($584million) in a bid to turn the smaller group into a global sportsmarketing agency.
The deal for Chime, founded by Margaret Thatcher's formermedia adviser Lord Bell, marks a premium of 33 percent and comesafter the companies revealed the talks earlier this week.
($1 = 0.6406 pounds) (Reporting by Kate Holton, Editing by Paul Sandle)
WPP (WPP)
