As global advertising powerhouse WPP continues to shift operations to the digital side of things, Sir Martin Sorrell is targeting Montreal-based ad agency Nurun. I’ve worked with Nurun in the past and it has an impressive client list and made a name with notable marketers.
Nurun is actually owned partially by Quebecor Media, whose sisted company Quebecor World is about to be eating away by a major private equity investor or a competitor as plans for a $400M credit facility fell through at the last second.
The credit markets are changing before our eyes, that is for sure, but that is a short-term change as a result of loose credit excess last year.
What is undergoing a more significant shift is the media world: it’s going digital, and Quebecor’s troubling times over at its printing unit - while digital thrives - speak volumes.
In other words, WPP is willing to pay more for Nurun’s shares under any terms Quebecor Media wishes… but Quebecor World cannot give itself away (proverbially speaking).
Quebecor World was once the world’s largest commercial printer, printing magazines like Fortune and many others.
Disclaimer: Quebecor Media’s Canoe.ca is one of WatchMojo.com’s 100 or so distribution partners. I forgot to add this initially…
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