LONDON--Advertising company WPP PLC (WPP.LN) said Tuesday that
it has launched a new sports and entertainment rights agency,
ESP.
ESP will be made up of two separate businesses: ESP Properties
and ESP Brands. Both businesses will be part of WPP's media
investment management company GroupM, but remain independent of its
media-buying operations.
WPP said ESP Properties will serve sports and entertainment
rights holders, including federations, leagues, events, teams,
publishers and venues.
ESP Properties will be formed through new hires, the integration
of existing GroupM business units including sponsorship agency IEG,
and the acquisition of sports marketing agency Two Circles.
Shares of WPP at 0918 GMT trading 0.5% higher at 1,568
pence.
Write to Tapan Panchal at tapan.panchal@wsj.com
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