Advertising and communications giant WPP is buying entertainment marketing agency Filmworks China whose clients include Electronics Arts, DreamWorks and TCL Television. Founded in 2010, the Beijing-based company markets entertainment media properties, licenses merchandise and handles product placement and celebrity endorsements. It has placed Chinese brands in Hollywood properties including Transformers: Dark Of The Moon and The Big Bang Theory. In 2012, it had revenues of about $2M. WPP, which has been actively expanding in China, says the country is its 3rd largest market with $1.3B in revenues. WPP is making the purchase, for which financial terms were not disclosed, via its global media investment management arm, GroupM. The deal is subject to regulatory approval.
WPP To Acquire Filmworks China
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