Good morning and welcome to Insider Advertising for March 18. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:
- Apollo plans Notified spin off.
- PE firm Innovatus Capital eyes ad agencies.
- FuboTV moves into sports betting.
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- Patrick Coffee and Sean Czarnecki report that investment firm Apollo Global Management is planning to sell PR software company Notified.
- Apollo acquired Notified’s parent company Intrado for $2 billion in 2017.
- This move comes as investors are taking more interest in once-volatile PR services.
Private-equity firm Innovatus Capital just snapped up 3 ad agencies and said it wants to take on the big ad holding companies
- Patrick reports that private-equity firm Innovatus Capital acquired three midsize ad agencies in the past three months.
- It joins other PE firms that have poured billions into marketing services over the past few years.
- Innovatus said it plans to acquire more agencies that have been weakened in the downturn.
FuboTV’s CEO breaks down the company’s sports-betting strategy, which has spurred both investor enthusiasm and stock volatility
- The streaming-TV service FuboTV is moving into sports gambling, reports Ashley Rodriguez.
- The sports-betting strategy has driven volatility in the stock over the past few months.
- CEO David Gandler described his plan, which is focused on the sports-entertainment experience.
More stories we’re reading:
- Philips took a $30 million-plus chunk of its ad business away from ad giant WPP (Insider)
- A former Facebook staffer became one of the leading ‘#JobTok’ creators on TikTok by posting career advice to her 90,000 followers (Insider)
- Amazon’s ‘underappreciated’ B2B unit is on pace to become an $80 billion marketplace. And execs from Citi to Uber are praising it this week. (Insider)
- Apple received a boost in its legal tussle with French advertisers who had hoped to delay upcoming app-privacy changes – but it still faces an investigation into the proposed move (Reuters)
- Snap acquires Berlin company that helps online shoppers pick clothes that fit properly (CNBC)
- Coming to a TV near you: Ad fraud that costs marketers millions (Bloomberg)
- Tinuiti acquires Amazon specialist Ortega Group, adds Kevin Mayer to board (Wall Street Journal)