The move, subject to shareholder approval at the Annual General Meeting May 22, is designed to remove confusion between the media network brand and the holding company that is pursuing a policy of global expansion. CIA Group has long been known to be interested in launching into the U.S.
"We are already at the stage where we have a number of separately branded companies in the group and envisage this number will increase as we continue to grow our market position and extend our know-how across the media communications arena," says CIA Chairman Chris Ingram. "The proposal to change the name of the holding company to Tempus Group plc will greatly assist in clarifying our corporate structure, while preserving the strong CIA branding at the operational level where it stands strongly established in the marketplace and can therefore reap most benefit."
Other CIA Group-owned companies include Mediahaus Strobel Holding, CIA Media Marketing in Norway, and CIA Pacific Ltd in Hong Kong.
The name Tempus - the Latin word for time was selected with the help of the Communications Partners International consultancy for its positive international image.
"Time is fast becoming the most precious commodity in modern society and is most certainly the key currency of the media and communications business," Mr. Ingram says. "This will only be magnified by the unlimited availability of time that the Internet and digital television are bringing."
CIA Group currently spends in excess of $3.5 billion on time and space on behalf of its clients. It has 35 offices in 22 countries, including two in Asia Pacific.
Copyright May 1998, Crain Communications Inc.