Rock star-turned-tycoon Sir Bob Geldof, remembered dimly as Boomtown Rats’ lead singer and more positively for his LiveAid activities, is to play a gig on London’s ad scene.
His TV and radio company, Ten Alps Communications, yesterday announced its reverse takeover of AIM-listed Osprey Group, a London holding company with diverse advertising, direct marketing and sales promotion interests.
The 40% stake in Ten Alps held by Geldof will be reduced to 12% as a result of the takeover. He had planned to become non-executive chairman of the combined venture but ceded the role to political guru and broadcaster Brian Walden. Geldof’s partner Alex Connock will be chief executive of the enlarged group, which will assume the Ten Alps Communications branding.
Says Sir Bob of his advertising riff: “This is a good business and I’ve been in the media for twenty years so I’m asking people to come along for the ride.”
It is unclear what roles, if any, will be offered to former Osprey chairman, the media planning veteran Jack Rubins, and its chief executive Chris Still, another ad industry doyen.
News source: The Times (London)