WME Group continues to downsize outside its core talent agency business.
The company said on Thursday that it has sold its sports marketing agency 160over90 to French advertising giant Publicis (one of the Big Three ad agencies alongside WPP and Omnicom).
Terms of the deal were not disclosed, though Wall Street Journal Its value was estimated at more than $500 million. WME’s parent company Endeavor Group Holdings acquired 160over90 in 2018 for $200 million, when it was still ramping up in preparation for its initial public offering.
The two companies also signed a strategic partnership, with Publicis securing early-stage access to WME’s roster of talent and intellectual property for content and funding partnerships.
The deal expands Publicis’ presence in the sports marketing sector, which has undoubtedly remained the strongest part of the traditional advertising ecosystem at a time of digital disruption. 160over90’s employees, numbering more than 670, will join Publicis Sports. Publicis Sports CEO Susie Dearing will add oversight of 160over90 to her portfolio, while Robbie Hinchman, current 160over90 president (he was just promoted to the role last fall) will remain with WME Group as a senior partner and head of WME’s brand representation business. He will also manage the strategic partnership with Publicis.
Of course, Endeavor went private last year in a deal with Silver Lake. As part of this deal, non-core businesses were sold (as well as some sports representation companies that were subject to conflict of interest rules). This included the sale of IMG, On Location and PBR to TKO Group Holdings (controlled by Endeavor), and several of its live events businesses to MARI, which was founded by WME Group CEO Ari Emanuel and President and Managing Partner Mark Shapiro.
“160over90 has earned its reputation as a trusted partner to many of the world’s most influential brands, consistently delivering unique experiences and valuable partnerships on sports’ biggest stages,” Mark Shapiro, WME Group president and managing partner, said in a statement. “Combining forces with Publicis Sports will create an unparalleled offering for brands looking to move faster and create deeper connections with sports fans, properties and content. Additionally, WME Group’s new collaboration with Publicis Groupe will provide even more opportunities for our talent and partners to realize their commercial ambitions at scale.”
Arthur Sadoun, CEO of Publicis, added: “Having established an industry-leading position in identity, commerce and creative solutions, our next big bet is sports. In the age of AI, it has become one of the most high-value channels for consumers, providing unparalleled cultural relevance, live engagement and measurable impact.” “By combining 160+90’s scale and expertise in sports experiences, culture, and talent with the industry’s most powerful connected influencer platform, experiential capabilities, and data-driven insights, we are disrupting a highly fragmented landscape by creating a unified, comprehensive platform that connects brands with fans in meaningful and measurable ways.”
