March 23, 2006
Mediaedge:cia Raises Stake in US
Sports Marketing Group
By Alex Donohue
WPP Group's Mediaedge:cia has acquired a further 60% share in New
York-based sports marketing firm The Leverage Group, increasing its
stake to 80%.
The move is designed to underline Mediaedge:cia's commitment to
eventually buying the remaining 20% of The Leverage Group. It is part
of WPP's, long-term strategy to increase revenue in the sports
marketing sector.
The Leverage Group, which specialises in entertainment, marketing
and strategic partnerships with sports agencies and non-profit
organisations, has been part of the Mediaedge:cia network since 2003.
Its clients in the sports marketing sector currently include New York
Road Runners, USA Triathlon, Arbor Snowboards and USA Luge.
Founded in 1999, the Leverage Group also runs high-profile campaigns
with The Tribeca Film Festival in Lower Manhattan, pharmaceutical
company Berlex, and National Geographic.
The Leverage Group ended 2005 with profits of $4.4m, with net assets
at the date of its latest acquisition of $1.1m.