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Havas and Horizon Media Holdings form $20 billion JV - Horizon Global
Headquartered in New York and spanning over 100 countries, Horizon Global will harness Horizon Media and Havas Media Network’s combined strengths to deliver "a breakthrough agency network alternative" at a time when clients face fewer, more constrained options.
Horizon Media Holdings and Havas announced on Monday the creation of Horizon Global, a joint venture that brings together two of the world’s largest media buyers in an effort to capture more of the increasingly consolidated advertising market.
With a combined $20 billion in global billings, the venture immediately positions itself among the world’s top media investors. The new company will be based in New York and operate across more than 100 countries.
Horizon Global will concentrate on global clients with major operations in the United States, while Horizon Media and Havas Media Network continue to pursue business independently in other markets.
The venture will integrate Horizon’s Blu platform with Havas’ Converged.AI platform under a new offering called BluConverged. The combined technology, the companies said, is designed to provide marketers with faster insights, more transparency and improved outcomes.
"Built exclusively for the needs of the modern global marketer, Horizon Global is rewriting the agency network playbook," said Bill Koenigsberg, chief executive and founder of Horizon Media Holdings. "With an open ecosystem approach, Horizon Global fosters cooperation, prioritizes transparency and places power back in the client’s hands."
The company also unveiled a new leadership team. Bob Lord, president of Horizon Media Holdings and a veteran of the media and technology industry, has been named interim chief executive. Renata Spackova, based in Paris, will serve as global chief operating officer and oversee Horizon Global’s rollout across more than 100 markets.
The board will include Koenigsberg; Yannick Bolloré, chief executive and chairman of Havas; Peter Mears, global chief executive of Havas Media Network; and other executives from both parent companies.
"This partnership marks a significant moment for our agencies," Bolloré said. "I’ve known Bill for years, and I’m incredibly proud Horizon has turned to Havas as its global partner. In a shifting industry, we look forward to a very exciting partnership, combining our complementary strengths."
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