WPP PLC (LSE:WPP) attempts to sell its stake in research group Kantar have seemingly been boosted by the US$1 billion sale of that business's market research arm.
Kantar Media, which specialises in TV ratings, is being sold to alternative investment group HIG Capital.
Kantar Group, its parent, is 40% owned by ad giant WPP, which has said it will either sell its interest or spin it out through an IPO.
Having founded it in 1992, WPP sold 60% of the business to Bain Capital in 2019 for a net £2.5 billion.
Former Sky man, Patrick Béhar, who became chief executive of Kantar Media in 2023 said the new owner would give it “the resources and support to further accelerate our growth trajectory”.
WPP has been retrenching under chief executive Mark Read (pictured) in the face of reducing ad budgets, especially in the tech sector.
Fourth-quarter results are due next month with revenues expected to be flat at best.