Advert large WPP launches £75m sale of in-flight media service Spafax

WPP, the FTSE-100 advertising companies group, is in talks to promote a supplier of in-flight leisure which counts a number of the world’s main airways amongst its shoppers.

Sky Information has learnt that the London-listed proprietor of promoting companies similar to Ogilvy, is working with bankers on a disposal of Spafax, which it purchased 1 / 4 of a century in the past.

Sources mentioned on Friday that WPP hoped to fetch between £50m and £75m for Spafax.

Whereas the proceeds wouldn’t be materials to an organization with a market capitalisation of £6.8bn, the method highlights the stress on Mark Learn, its chief govt.

The corporate’s new chairman – former BT Group chief Philip Jansen – is eager to supervise a reshaping of WPP to embrace speedy developments in synthetic intelligence.

WPP acquired Spafax in 2000 when the group was run by Sir Martin Sorrell.

At that time, Spafax printed the Tate Galleries’ in-house journal in addition to offering in-flight media companies to dozens of airways.

Suitors for the enterprise, whose shoppers have included British Airways, Emirates, JetBlue and Latam, are mentioned to incorporate commerce bidders and personal fairness corporations.

The sale is being dealt with by JEGI CLARITY, an adviser on media trade offers.

A WPP spokesman declined to remark.