WPP acquires stake in US content firm

by Staff, Brand Republic 19-Mar-07, 14:50

LONDON - WPP Group has bought a 6.8% share in US content firm Media Rights Capital, which specialises in content across film, television, mobile and broadband.

Founded in 2004, MRC has offices in Los Angeles and New York. It focuses on financing and monetisation of content and its key investors include Goldman Sachs and AT&T. The gross assets acquired at the date of investment were $2.75m.

This investment further strengthens WPP's capabilities in premium and commercial content, an area of strategic importance in light of the increasing fragmentation of media, the exploding number of entertainment choices, the challenges facing traditional media and the growing importance of leveraging content to break through and reach new audiences.

It follows recent investments by WPP in The Weinstein Company, Bob and Harvey Weinstein's new film company, which is behind such films as Kevin Smith's 'Clerks II', and WildTangent, the online Game Publisher.