Spot Runner Snaps Up GlobeShooter
All eyes were on WPP – it was supposed to acquire the advertising agency known as Spot Runner, and that may still happen. But in a move that came as something of a surprise, Spot Runner made an acquisition of its own and formed the Spot Runner Production Network.
The (former) services of GlobeShooter, which was "a network of more than 1,200 independent filmmakers, professional videographers, photographers, producers and production companies throughout the U.S," comprise the new Spot Runner entity; GlobeShooter was the acquisition target.
This should put Spot Runner in a good position to get more local footage for its ads, and that is the company’s exact goal. "The acquisition of this network is a natural extension of our strategy to be a central resource for local businesses’ broad spectrum of advertising needs," noted Spot Runner CEO Nick Grouf in a statement.
Terms of the deal were not disclosed, so it remains unknown just how much of a hit Spot Runner took in order to accomplish the acquisition. And as we mentioned before, it does seem like an odd move for a company that might get bought out at any time.