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WPP Group Said to Be Courting 24/7 Real Media
WPP Group is one of the suitors to acquire 24/7 Real Media, which could sell for upwards of $600 million or more, reports The New York Post (via MediaPost).
The sale of 24/7 Real Media could spark a frenzy of consolidation within the online advertising services industry, coming so soon after Google’s $3.1 billion offer to acquire DoubleClick, according to the article.
WPP Group‘s last major acquisition was Grey Global Group in 2005 for $1.2 billion. Chairman-CEO Martin Sorrell has been vocal about plans to restructure WPP in online and other digital interactive advertising services, among other areas.
24/7 Real Media, which trails DoubleClick in the market, is hoping to leverage the Google/DoubleClick deal by promoting itself to disenchanted DoubleClick customers. The main copy on the company’s home page reads, “Congratulations to GoogleClick Nation! Defectors, click here.” The link leads to a registration form.