Mergers & Acquisitions
Nestled along the South Platte River, the county seat of Keith County, Neb., has perhaps an outsized role when it comes to local media for a population of roughly 5,000. Thanks to 100kw FMs such as KMCX-FM, iHeartMedia enjoys a three-station operation in the community due west of North Platte.
As part of a surprise announcement that Omnicom has acquired the digital commerce operations of Cannes Lions owner Ascential PLC -- as well as its former CEO Duncan Painter -- the agency holding company also is participating in the sale of struggling agency tech startup Hudson MX, the companies announced.
Omnicom has agreed to acquire Flywheel Digital, the digital commerce business of Ascential, for a net cash purchase price of approximately $835 million. For the 12 months through June, Flywheel had revenue of about $300 million.