Additional Information


Content

WPP lines up to save Worldpop

LONDON - Advertising giant WPP Group has emerged as one of 20 companies lining up to help rescue sinking music and media company Worldpop.

Share this article

WPP is joined in the race to help save the company, founded by former Radio 1 DJ Peter Powell, by Music Choice Europe, World Entertainment News Network, Diageo and Clickmusic, as well as several venture capitalists, according to Nick Wood, joint administrator at accountancy firm Grant Thornton.



Wood said, "The company is continuing to trade and we hope to conclude a deal in the next couple of weeks."



As expected, Worldpop was placed under administration yesterday when it failed to raise further funding after ploughing its way through £13m since its launch in 1999.



According to earlier reports, the company only needs a £1m cash injection to secure its future.



If you have an opinion on this or any other issue raised on Brand

Republic, join the debate in the Forum here.







Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Additional Information

Latest jobs Jobs web feed

Back to top ^