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Martin Sorrell beats WPP to £266m MediaMonks deal

Takeover marks mogul’s first acquisition since he was forced out of media group he founded Sir Martin Sorrell has bought Dutch firm MediaMonks for €300m (£266m) in a deal that marks his return to the forefront of the advertising industry and an escalation of hostilities with his former employer, WPP. Sorrell pursued the deal despite receiving a legal letter from WPP alleging that he was being “unlawful” and in breach of his confidentiality agreement on the basis that he looked at buying the digital ad production firm when he was still chief executive. Sorrell denies the allegations. Continue reading...
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