Joint venture between WPP and Shine
30 October, 2001
WPP and Shine Entertainment have signed a joint venture agreement to form a new global company called Shine:M, it was announced today by Shine Chief Executive, Elisabeth Murdoch and Irwin Gotlieb, Chairman and CEO of MindShare and Beth Gordon, Chairman of The Media Edge, WPP’s media investment management companies.
Shine:M will bring together the television and film talent of Shine Entertainment and the media capabilities of MindShare and The Media Edge.
The company will be led by Managing Director, David Pemsel, and supported by Planning Director, Andrew Hill, who previously worked at St Lukes as Managing Partner and Founding Partner respectively. Andy Auerbach, previously an Executive Producer at Planet 24, will act as Creative Director.
The purpose of the new company will be to create media franchises, intellectual properties and television formats for companies and brand owners, which can be exploited commercially through distribution, marketing, licensing and retailing.
Shine:M will allow clients to create and own television formats that they can exploit. MindShare and The Media Edge will provide the strategic foundation, international client base and broadcaster relationships.
The company’s capabilities will be available to all clients of WPP companies, initially concentrating on the US and Europe.
Elisabeth Murdoch said, "More than ever, advertisers are looking at alternative and more efficient models of marketing their brands globally. Advertiser-supported programming is not an entirely new concept and has taken on many guises. However, Shine:M is providing a new way for advertisers to connect with their consumers, by articulating their brand values through editorial content, and creating platforms upon which they can extend their effectiveness .
"In addition, broadcasters are actively looking for financial partners to support their programming. Shine:M is uniquely positioned to act as the bridge between broadcasters and advertisers, by providing world class marketing and television production expertise under one roof."
David Pemsel said, " I believe this is a fantastic opportunity to bring together proven television experience with media and brand strategy to provide clients with a unique offering. This is not about product placement or logos. This is about creating an audience via quality content to the benefit of brands and media owners."
Irwin Gotlieb commented, "The fundamental structure and economics of broadcast and programming are changing. We are in the business of managing client media investment. At our scale, our role needs to go beyond buying television volume efficiently. We need to develop broader relationships with our media trading partners for the benefit of our clients."