Another media owner just entered the agency
sector. Metrocorp, parent company of Philadelphia
and Boston magazines, confirmed it
has purchased a majority interest in Slice Communications, a social media and
public relations shop based in Philadelphia.
The deal is the latest example of a media company buying into the agency
business.Both Hearst and Meredith have invested in well-known shops. In 2010, Hearst bought digital shop iCrossing for more than $300 million. That same year, Meredith purchased mobile specialist The Hyperfactory. Terms of the Slice acquisition were not disclosed.
