WPP announces that its wholly-owned operating company GroupM, WPP’s global media investment management arm, has agreed to acquire Filmworks China (“Filmworks”), a leading entertainment marketing agency in China, subject to regulatory approval.
Founded in 2010, Filmworks’ service offering includes marketing of entertainment media properties, merchandise licensing, tie-in promotion, product placement and celebrity endorsements. It has a blue-chip client list that includes Electronics Arts, DreamWorks, TCL Television, Li Ning and Yili Group.
Filmworks’ unaudited revenues for the year ended 31 December 2011 were approximately RMB 12 million, with gross assets at the same date of approximately RMB 11 million.
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