Poster-buying specialist Poster Publicity is poised to sign a deal with WPP Group to create a new global outdoor specialist.
The independently owned Poster Publicity is to merge with WPP’s outdoor company, Portland Outdoor. It is understood that Poster Publicity’s management will be running the new company, but it is not known if there will be any redundancies at Portland.
Poster Publicity’s largest shareholder and group chief executive, Eric Newnham, said he was in final negotiations with WPP.
The two are merging to compete with Aegis-owned Posterscope, which has been expanding and is now the largest outdoor buying company in the world. Poster Publicity is the second biggest.
Under the deal, it is understood WPP will have a 50 per cent share in Poster Publicity, with the option to buy the company in full in future.
Separately, Poster Publicity is launching a new digital outdoor media division. The company says the growth of digital screens, such as the Tesco TV offering, has led it to create a specialist division.