Waggener Edstrom doubles stake in Australian comms agency

Waggener Edstrom (WE) has increased its equity share in Australian comms agency Buchan, as the agency embarks on a global growth plan.

Chris Talago: Waggener Edstrom GM, EMEA
Chris Talago: Waggener Edstrom GM, EMEA

WE has taken its stake up to 42.5 per cent after making a 20 per cent investment three years ago.

The move comes after the hire of ex-Grayling CEO Michael Murphy last month, who has taken up the role of senior global adviser.

Chris Talago, general manager EMEA, also told PRWeek: "We are looking at a range of growth options across EMEA including full and minority acquisitions to gain wider access into emerging markets and new clients." 

WE also has a minority stake in Korean IT and consumer agency Shout Communications.

Meanwhile the agency's London office, which was hit by five senior departures in July, is set to announce a replacement for GM Cairbre Sugrue soon.

WE is not looking to replace Nick Meir and Simon Cliffe, who led the agency's broadcast team, and will instead use partners on a freelance basis.

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