As a result of the UK’s referendum decision to leave the European Union, WPP says it will now place greater emphasis on growth in Western Continental Europe, which includes four of the group’s top 10 markets worldwide: Germany, France, Italy and Spain.
Case in point is the UK-based holding company’s most recent investment, an undisclosed stake in French media investment company LNEI, which has holdings in well-known publications, such as Le Monde and the French edition of The Huffington Post.
LNEI also has stakes in media firms such as L’Obs, Les Inrocks, Telerama, Radio Nova, and VICE France. It is also a founding partner of Mediawan, an investor in media content and entertainment companies in Europe, which has recently completed a €250 million listing of its securities on Euronext.
Reliance Group, one of India’s leading corporations, is also an investor in LNEI.
Terms of WPP’s LNEI investment weren’t disclosed, but it’s just the latest bet the firm has placed in the content sector.
Other content investments include Woven, Refinery29, Mitú, All Def Digital, Truffle Pig, Fullscreen, Indigenous Media, Imagina, MRC, Say Media, Bruin Sports Capital, Courtside Ventures, The Weinstein Company and Vice.