We are delighted to announce that Core Media Group has acquired Mediaworks. With combined billings in excess of €160 million per annum, the deal will secure Core Media Group’s position as the largest media buyer in the Irish market. Core Media Group is majority Irish owned and the acquisition of Mediaworks brings staff numbers in Core Media Group to 116 in Ireland.
Whilst the day to day running of Mediaworks will operate as is, this development allows Mediaworks access to additional research tools and resources to further strengthen our offering, to the ultimate benefit of our clients.
Commenting on today’s announcement, Alan Cox, chief executive, Core Media Group, said: “Mediaworks is a highly respected company and a very successful business with a similar culture and approach to our own. This deal is the latest in a series of investments that we are making in our business to grow our market share and expand our service offering. In addition to our acquisition plan, we are continuing to invest heavily in developing our digital and research divisions which will account for 31% of our revenues this year.”
Paul Moran commented: “The acquisition of Mediaworks by Core Media is great news for both our staff and our clients. We are delighted with this development which allows Mediaworks to maintain close personal client contact while benefitting from the buying power, resources and tools behind Ireland’s largest media communications group.”