Megalomedia on new media acquisition trail

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Megalomedia, the new media firm chaired by Maurice Saatchi, partner of M & C Saatchi, acquires an 11% stake in U.K. Internet company the Webmedia Group, with an option to buy another 9%; Megalomedia is keen to develop a network of new media businesses while Webmedia plans to expand into Europe and the U.S..

Copyright August 1996 Crain Communications Inc.

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