LONDON--Advertising firm WPP PLC (WPP.LN) said Tuesday it has
made a strategic investment in Indigenous Media LLC, a new digital
studio that produces scripted content and develops channel brands
for content distribution.
WPP said it is taking a significant minority stake in Indigenous
Media along with U.K. commercial broadcast network ITV.
WPP and ITV will contribute advertising and distribution
expertise, allowing Indigenous Media to focus on creating content
that will attract brand sponsorships, and global distribution on
multiple platforms.
Other investors include Advancit Capital and individuals
including Steven Tisch, Michael Price and Dr. Aaron Stern.
Founded by film makers Jon Avnet, Rodrigo Garcia and Jake Avnet,
Indigenous Media is based in Los Angeles.
-Write to Razak Musah Baba at razak.baba@wsj.com; Twitter:
@Raztweet
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