True North plans to fold MBS acquisition into FCB

True North Communications has acquired Genus Media, the parent company of MBS Media and Expert Media, with a view to combining its media buying capabilities with those already in house at Banks Hoggins O’Shea/FCB.

The acquisition is the first of a series expected to take place over the next few months. MBS is one of the largest privately held media specialists in the UK, with billings of about &£82m.

John Banks, chairman and chief executive of FCB Group, says: “The deal is part of a European programme and the first of a series of acquisitions to take place over the next four to five months.

“We are looking at France, Germany and Italy,” he adds.

Once the deals are completed, True North will assess how the media buying business and various brands will operate across Europe.

Glenn Burton, chairman of Genus Media, and Jeff Taylor, the company’s managing director, will remain in their current positions for the time being. Banks adds that FCB’s media planning for existing clients will remain within the agency.

Burton, who is to report initially to TN Media in the US, says: “We have been approached many times before – True North shared our company values, which was very important.”

True North is expected to hold talks about the future of its 49 per cent stake in BJK&E with co-owner Tempus.

Latest from Marketing Week

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here