Mitchell Communications goes shopping
Monday, December 3, 2007/
Media company Mitchell Communications Group is looking at buying companies in the broader communications area, including creative advertising agencies.
The Australian Financial Review reports that chairman Harold Mitchell says his policy of sticking to media planning and buying is under review. Mitchell says the company already owns creative-based companies in the digital sector and buying some in the mainstream agency sector might be an option.
He says he is also looking at acquisitions in the research sector after the attempt to buy Roy Morgan Research failed. He is also looking at public relations, advertising and digital marketing areas.
Since July, the Mitchell Group has bought up to eight companies, including Visual Jazz, Haystac and CoMedia.
Chief executive Stuart Mitchell predicts the online ad market would turn over $2 billion in 2008, up 43% from $1.4 billion this year.