WPP subsidiaries sign deal with US film business Rentrak

WPP's wholly-owned companies, GroupM, its global media investment management company, and Kantar Media, its media research and analytics business, have entered into agreements with Rentrak, the US-based film and television measurement company.Under the new partnerships, WPP will deliver new services in television measurement and consumer insights to clients in the US.WPP will inject Kantar Media's US television measurement business into Rentrak in exchange for $98m of Rentrak common stock.The FTSE 100 group will also purchase shares directly from the company for $56m in cash, giving WPP a final ownership stake of 16.7% of Rentrak."For GroupM, the ability to integrate consumer data with volumes of TV information using Rentrak's data and technology represents a major step in the formation of a next generation, fully-passive, census-level measurement," WPP explained."These agreements continue WPP's strategy of developing its services in important markets and sectors and strengthening its capabilities in digital and data investment management businesses."The deal is expected to be complete by the end of the year.