According to Aegis Media’s CEO Jerry Buhlmann (pictured), the joint venture is in line with the media company’s goals of strengthening its assets in the market. “This deal significantly extends our Chinese operations and will further transform our prospects in this exciting and dynamic market,” he said. “China is already the second-largest advertising spending market in the world and continues to experience strong growth.”
The partnership aims to sharpen Aegis’ domestic operations as well as bolster Charm’s scope by banking on Vizeum’s international client base.
He Dang, founder and CEO of Charm, will be chairman of the JV.
“As well as enhancing our offering in China, this new joint venture will give our Chinese clients access to the Aegis global network, bringing them the tools and expertise to extend their brands in markets around the world,” he said.
Charm, which launched in 1995, brokers TV advertising to networks including CCTV, Shanghai Dragon Satellite TV and Tianjin Satellite TV for clients including China Telecom, People’s Insurance, China CITIC Bank, ICBC and Yunnam Baiyao Pharmaceutical.
Vizeum – classified as Aegis’ “challenger media brand” in contrast to Carat and OOH agency Posterscope – has 47 offices in 36 countries with more than US$5.3 billion worth of worldwide network billings.
