January 14, 2022

Digital Marketing Education

Latest news and events

Horizon Media sells minority stake to Temasek and LionTree

“I think they both bring enormous commercial relationships and connections around the globe,” Koenigsberg said of Temasek and LionTree. “They both bring a strong corporate development capability if we want to go out and become more aggressive from an acquisition perspective and Temasek has enormous relationships across the globe with many different types of companies.”

Temasek’s largest holdings in its $283 billion portfolio, as of March, were in financial services, followed by telecommunications, media and technology. 

The news comes nearly a month after Horizon opened its first international office, in Canada. While Horizon has been a part of global pitches in the past it will become “more aggressive globally” which also means potentially opening other offices around the globe, Koenigsberg confirmed. 

Koenigsberg has long seen the agency’s full independence as an advantage but he has been open to the downsides it also brings. 

“I’m not as strong globally,” he told Ad Age last year. “The other downside is … the fact that I don’t have publicly traded currency sometimes has hurt me.” 

See Ad Age’s 2021 Year in Review here.

So far consultants in the industry see Horizon’s move as an upgrade for the media agency.

“This is a highly strategic move to partner with a $300 billion company with its focus outside of the U.S.,” said Greg Paull, R3 principal and co-founder. “The big opportunity for Horizon is to build a deeper and broader bench of tools and talent. Deeper within specific areas such as programmatic and data and broader in the sense of global reach. Temasek, with its deep pockets and international mindset, can be a positive partner in supporting this.”

“Increasingly, media reviews this year such as Coca-Cola, Kering and Philips are becoming more global in nature,” Paull added.  Horizon is at a strategic disadvantage for theses despite their strong U.S. presence. This move will give them the path forward to gain access in the future.”

Allen & Company acted as financial advisor and Loeb & Loeb acted as legal advisor to Horizon Media. Cleary Gottlieb Steen & Hamilton acted as legal advisor to Temasek.