WPP, along with investment bank Goldman Sachs & Co. and AT&T, has put $400 million in MRC that will be used for content production. The ad agency group's interest is both financial and practical. "We do this to have a deeper understanding of the business," says Irwin Gotlieb, global CEO, Group M, the umbrella unit that oversees WPP Group's four media networks. "At our scale, we have to have a relationship with the content side that goes well beyond negotiation for 30-second spots or GRPs." And, as part of the deal, WPP gets first shot at branded-entertainment opportunities for its clients from MRC financed projects.
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