Group Press Releases
Aegis Announces New Independent Media Network
11 March 2003
Aegis Group plc ("Aegis") - the media communications and market research group - announced today that it plans to launch Vizeum, a new international media network, by Q3 2003. The Group currently has a significant number of strong local media operations, in addition to the existing Carat network, which will be brought together as a new international network under the Vizeum brand. Vizeum will provide clients with the opportunity to work with a new independent media agency with access to world-class systems and to the negotiating power of the Aegis Group.
Aegis has an impressive track record of developing its media business organically. Since the mid- 90’s the Carat network has led the market in unbundled media advice, doubling in size organically while many of its competitors merged with each other to maintain market share. While Carat retains its number one market position in Europe, Vizeum will bring further choice to advertisers seeking independent advice.
To ensure that both Carat and Vizeum leverage Aegis' established market position, the Group will create a holding company called Aegis Media which will have responsibility for all of its media businesses and will operate at both the regional and country level. Aegis Media will maximise scale benefits by providing a number of shared services and internal resources including media negotiation, information technology and finance.
Eric Drancourt, currently Chairman of Carat International will become the Chief Executive Officer of Vizeum. Martyn Rattle, currently vice president of Carat International, will become Chief Operating Officer. Headquartered in London, Vizeum will operate alongside Carat within the Aegis Media division and will launch with a significant European network that will be developed globally.
Commenting, Eric Drancourt said:
"We are beginning a process of consultation with clients who we will involve in the planning of the new network. Vizeum will create a new opportunity for advertisers to take advantage of independent media advice and implementation. Vizeum will draw competitive advantage from Aegis Media, which will allow us to use the superb processes, tools and significant media buying power of the Group."
Doug Flynn, CEO of Aegis Group plc said:
"Aegis has always benefited from the strong national agencies outside the Carat network. These will now be brought together to form a cohesive network that will offer clients a consistent international approach to media planning and buying. This move recognises the growing trend towards international mandates and offers clients a greater opportunity to work with independent media agencies. We are confident that Vizeum will provide significant client benefits and will give us an excellent new base from which to continue to grow the business organically."
For further information contact:
Richard Walters
Aegis Group plc
+44 (0) 20 7070 7700
Charles Palmer
Financial Dynamics
+44 (0) 20 7831 3113
