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Aegis Acquires Stake in Chinese Ad Firm, Plans JV

Aegis Group PR, 1/25/10

UK-based marketing communications group Aegis Group has announced that it will extend its operations in China with the acquisition of a 17.7% shareholding in Chinese TV buying and advertising firm Charm Communications. The gross assets of Charm in total are USD 143 mln. In addition, Aegis's Vizeum arm and Charm are establishing a joint venture which will operate as Vizeum China.

Vizeum's China operation will form the initial 40% of the JV's revenues and Charm will transfer local clients to the JV to form the remaining 60%. The shareholder structure of 40% Aegis and 60% Charm will move towards 100% Aegis ownership by 2024 via incremental put and call options.

Charm, established in 1995, is a leading television advertising service provider in China and one of the largest brokers to China Central Television (CCTV).

Keywords: Aegis Group Charm Communications Vizeum China television CCTV JV TV advertising M&A

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