WPP buys majority stake in Latino digital content creator Mitú
WPP’s investment arm has acquired a minority interest in online Hispanic-focused digital content creator Mitú for an undisclosed sum.
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Santa Monica-based Mitú, which caters to young Latino audiences in the US and Latin America, counts America Movil, Kia, MillerCoors, NBCUniversal and Procter & Gamble among its clients.
The company creates and distributes original content and produces branded entertainment on behalf of its clients.
Mitú has over 2bn global monthly views across all platforms, including Facebook and Youtube, in the US, Mexico, Brazil and other Latin American countries.
WPP said the acquisition continues its strategy of investing in regions and sectors such as digital.
At 1415 GMT, WPP shares were up 0.5% to 1,490.80p.