• by John Gaffney , April 21, 2003

Carat added some strength to its entertainment resources yesterday by purchasing the assets of UK-based Independent Media Services. IMS specializes in buying for entertainment and media based clients. In the US, it does a lot of work for Viacom and its various media holdings.

Carat EVP and director of operations Paul Singer said the new combination would add to work already being done by both companies at CBS, Nickelodeon, MTV, VH1 and UPN. He said most of IMS $20 $30 million in billings were for local spot buys and that it will add to Carat's profile in the buying market.

"We're already a big player in the marketplace," Singer said. "We've seen a tremendous amount of growth over the past five years. This helps us in the entertainment business, but does not reshape us fundamentally."

Singer added that Carat will "aggressively" try to launch a product placement service as one of its next moves.

"We see that as a major growth opportunity," he said. "The operative phrase for clients is 'integrated media solutions.' That's what we'll provide."