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The Farm Group to be put out to pasture

17/06/2019

WPP to sell its 50 million stake in the post production company

Dan Meier 3 hours ago

WPP to sell its 50 million stake in the post production company

target=_blank title=Share on LinkedIn class=share-linkedin> WPP to sell its 50 million stake in the post production company

https://www.tvbeurope.com/business/the-farm-group-to-be-put-out-to-pasture title=Share via Email class=share-email>

Post production company The Farm Group is to be sold to American rival Picture Shop this week.

The company's owner WPP is set to sell its 75 per cent stake in The Farm, valued around 50 million. It is unknown whether the 25 per cent owned by The Farm's founders (Nicky Sargent and Vikki Dunn) will be included in the deal.

The Emmy Award-winning post production house has bases in Manchester, London, Bristol and Los Angeles, and works on shows including The X Factor and The Grand Tour.

WPP CEO Mark Read reportedly identified The Farm as a fringe operation and announced plans in December 2018 to cut 3,500 jobs and close/merge 180 offices globally.

Read said WPP was making progress although like-for-like sales are expected to fall by 1.5-2 per cent this year.
LINK: https://www.tvbeurope.com/business/the-farm-group-to-be-put-out-to-pas...
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