WME Group continues to slim down outside of its core talent agency business.
The company said Thursday that it has sold its sports marketing agency 160over90 to the French advertising giant Publicis (one of the big three ad agencies alongside WPP and Omnicom).
Terms of the deal were not disclosed, though the Wall Street Journal pegged the value at more than $500 million. WME’s parent company Endeavor Group Holdings had acquired 160over90 in 2018 for $200 million, when it was still bulking up in preparation for its IPO.
The companies also inked a strategic partnership, with Publicis securing early-stage access to WME’s roster of talent and IP for content partnerships and financing.
The deal expands Publicis’ presence in the sports marketing sector, which has remained arguably the strongest part of the traditional advertising ecosystem at a time where digital disruption is prevalent. 160over90’s employees, which
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