JWT Buys Stake in Brazil’s Master

30 November 2000

WPP’s J Walter Thompson has purchased a 49% stake in leading Brazilian agency Master Comunicacao.

Master, one of the largest shops outside the Sao Paulo/Rio de Janeiro mega-connurbation, handles several government accounts in the nation’s capital Brasilia. Other clients include Fiat and Telecom Italian Mobile. Master’s income last year was $8.5 million.

Although the Brazilian shop remains autonomous, it will add JWT to its name. Financial details of the deal have been kept under the wraps.

News source: Advertising Age - International Daily