WPP Buys Sponsorship Specialist

WPP's GroupM has announced the acquisition of Chicago-based IEG, Inc., a leading provider of research and strategic counsel on sponsorship, promotional partnerships and other fields including corporate social responsibility.

IEG is known as the company that helped sponsorship grow into the $30 billion worldwide industry it is today, providing metrics which give it predictability and accountability, allowing companies to plan and asses their participation in sports, arts, entertainment and related fields. It launched its newsletter, IEG Sponsorship Report, in 1984. Its Valuation Service claims to 'determine the fair market value of sponsorship' and has been used to assess opportunities from the FIFA World Cup to the Boys Choir of Harlem and the World Wide Fund for Nature. It also provides strategic advice and training in the field of Corporate Social Responsibility.

IEG co-founder Lesa Ukman becomes Chairman under the new owners, while Laren Ukman becomes CEO, reporting to Charles Courtier, Executive Chairman of WPP's Mediaedge:cia. All IEG employees will be retained. Lesa Ukman comments 'Sponsorship is tailor made for a world where consumers are in control. It communicates without interrupting and allows brands to build financial and social capital by partnering with the organizations and experiences that their customers love.'

According to Courtier, speaking on behalf of GroupM North America: 'IEG's ability to transform sponsorship from an intangible expense to a measurable investment is spot-on with GroupM's commitment to increasing the productivity of client expenditures through integrated, channel-neutral communications.'

IEG is online at www.Sponsorship.com. GroupM, which was created by WPP Group to oversee its assets in the area of media investment management, has a home page at www.groupm.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.