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Media agency giant Horizon is on the hunt for acquisitions as advertising M&A heats up

Bill Koenigsberg, Horizon Media CEO
Horizon Media CEO Bill Koenigsberg said his agency is gearing up to make acquisitions this year.

Horizon Media

  • US media agency giant Horizon Media is on the hunt for acquisitions, CEO Bill Koenigsberg told BI.
  • The agency wants to enhance its expertise in retail technology, influencer, and sports marketing.
  • Industry observers expect a raft of ad agency acquisitions in 2025.

Advertising company Horizon Media is actively searching for acquisitions as it sets its sights on aggressive expansion in 2025.

Horizon Media CEO Bill Koenigsberg told Business Insider in an interview that the agency is particularly interested in teams with strong expertise in areas such as retail technology, influencer marketing, and sports marketing.

Koenigsberg said Horizon feels reinvigorated following a series of significant moves over the last 18 months. It's added a number of senior hires, restructured the agency to embed product teams with its business-solutions groups, launched a creative agency, and significantly increased investment in its data platform Blu.

"We're 35 years old as a company, but I'll tell you that we're a startup all over again," Koenigsberg told BI.

"Now I have to figure out how to add significantly more resources to get us even faster," he said, though he added Horizon isn't looking for additional investment itself.

Advertising industry insiders have predicted that 2025 could be a banner year for acquisitions in the sector, kickstarted by the merger of Omnicom and Interpublic Group. That deal, which is expected to close in the second half of the year, will create the world's largest ad agency holding group.

"The Omnicom-IPG merger process will likely bring about a period of friction in which agencies compete for accounts and employees," wrote Tim Nollen, senior media tech analyst at Macquarie, in a research note earlier this month. "It could quite possibly also usher in more M&A, whether large or small."

Horizon hasn't been an active acquirer in the past

With around 2,400 people responsible for about $8.5 billion in annual media investment, Horizon is the largest media agency in the US, according to industry trade Ad Age. It's also the biggest global independent media agency โ€” which means it isn't attached to a wider holding company like many of its similar-sized peers โ€” per marketing benchmarking company COMvergence. Media agencies plan and buy ad campaigns across platforms, from digital and TV to billboards and newspapers.

While Horizon has expanded its services into areas like retail media and influencer marketing, it has largely kept to the sidelines when it comes to M&A. Advertising holding companies like WPP, Publicis Groupe, and Stagwell typically do at least half a dozen investments or acquisitions in any given year. Horizon's last acquisition โ€” the sports marketing agency Blake Sports Group โ€” was completed in 2023.

"We probably looked at over 20 acquisitions over the last two years with Temasek," said Koenigsberg, referring to the Singapore-based investment firm Horizon sold a minority stake to in 2021.

Koenigsberg said there was "nothing out there that we felt was worth what some of these companies were asking."

Horizon is looking at international expansion

According to the media advisory firm R3, Horizon ranked 12th among US media agencies for new business. The agency brought in an estimated $6.7 million in new revenue in 2024 through November, per R3, winning clients including Wegmans, ADT, and Auctane.

Greg Paull, president of growth at R3, said Horizon had diversified its services into data, retail media, and social media but added that it needed more of an international edge.

Horizon has offices in New York, Los Angeles, and Toronto. For clients with international needs, it works with the Local Planet Network, a consortium of independent media agencies across 85 markets.

"While all media is local, more and more big media reviews are global โ€” Horizon needs to find partners, or else it will struggle to access the world's largest clients," Paull said.

Koenigsberg said he's focused on helping Horizon get stronger outside the US.

"That's one of our top three priorities," Koenigsberg said. "How do we get more aggressively globally, keeping in mind there's a massive amount of US business for us to go after."

Bob Lord, Horizon Media President
Bob Lord, Horizon Media president, says the agency is interested in tech bolt-ons to help it expand.

Horizon Media

Bob Lord, an advertising veteran formerly of IBM, AOL, and Publicis Groupe, joined Horizon this month as the company's president and will lead the agency's acquisition hunt.

"I acquired nine different companies when I was at AOL in a span of two years to build up that platform," Lord told BI.

"If you think about the small little speed boats that can be added from a technology standpoint, that's the hypothesis I have," Lord said.

Read the original article on Business Insider

Many expats move to Dubai for sun and luxury — then work more than nearly anyone in the world

A business woman walks in Dubai
Millions of expatriates are drawn to Dubai, but the working hours are some of the longest in the world.

Xsandra/Getty Images

  • The UAE ranks second in the world for average hours worked a week.
  • Employees there work an average 51 hours a week, far beyond the US average of 38.
  • Expats in Dubai, the UAE commercial hub, told BI their work is intense but richly rewarded.

"I've been on a treadmill before on my work phone, doing barrier options," said Nick Fowler, 33, a British man who moved to the United Arab Emirates two years ago. "It can get a bit ridiculous sometimes."

(Barrier options are a financial product common in asset management, Fowler's industry.)

He is one of the millions of foreigners drawn to Dubai by its year-round sunshine, tax-free income, and its abundant luxury.

But it comes with a catch: they end up working more than nearly anyone else in the world.

The UAE ranks second globally for the highest average weekly working hours per employed person, according to the International Labour Organization.

Employees in the UAE work an average of 50.9 hours a week, far exceeding the 38-hour average in the US and the 35.9-hour average in Fowler's native UK.

The top spot goes to the reclusive Himalayan nation of Bhutan, with 54.4 hours.

Fowler told Business Insider that his typical workday starts around 8 a.m. and ends at 6:30 p.m., often without a proper break as he eats lunch at his desk. His day rarely ends there.

"I've been on dates before [where] I've had to send emails," he said, "and colleagues have rung me when I've sat down to eat dinner."

Luxury, but at a cost

Patrick James, 32, also from the UK, moved to Dubai six years ago.

He had been there on vacation before and was largely unimpressed, but was still drawn to the city by its financial opportunities.

He told BI he was offered a salary twice what he earned as a teacher in London.

While his teaching job in London often ran from 6 a.m. to 3 p.m., a recent teaching role in Dubai had him working 12 to 14 hours a day.

Across a five-day week with a shorter Friday, that puts him around 50 hours a week, close to the UAE norm.

"My child is two now," he said. "I wasn't seeing him. He'd wake up, I'd leave at home, and he'd be asleep, and I'd get home, and he'd be asleep."

For a short while, James could justify the sacrifice. "You're working, you're grinding, you're saving your money, and then you get to go on these luxurious holidays," he said.

Eventually, it became too much. Last March, he switched to a remote role with a Japanese health and wellness company, giving him the flexibility to set his own hours while still in Dubai.

James said that he believes that so many expats in Dubai just accept the long hours because of the competitiveness of its job market.

"If you are not good at your job, they'll get rid of you and get someone else," he said.

A highly competitive market

"It is commonly known that in the expatriate market in the UAE, supply is higher than demand," Fiona Robson, a professor of human resources management at Heriot-Watt University, Dubai, told BI.

"This can lead to less power for expatriates if they can be replaced easily, particularly if specialist skills are not needed at the point of recruitment," she added.

Burj Khalifa in Dubai and other skyscrapers
Expatriates dominate the workforce of the UAE, primarily working in the private sector.

TomasSereda/Getty Images

For some, the pressure to perform can feel overwhelming. Eigher Noceda, a Filipina who spent seven years in Dubai working in sales, felt an unspoken expectation to exceed her contractual hours.

"They will not say no if you like to overwork," she said. "If you want to stay after six, it's up to you. If you work on Saturday, they'll not tell you, 'Oh, why are you here? You should go home.'"

Eventually, Noceda realized that Dubai's work culture wasn't for her.

"If you always like to work and you always have the energy to network and really work your ass off, this is the place for you," she said.

But for Noceda, having a work-life balance was more important, so she moved to Italy, where she said she found a work culture that suited her better.

A 'high-context culture'

Rizwan Tahir, professor of International Business at the Rochester Institute of Technology in Dubai, attributes the UAE's intense work culture, in part, to its "high-context culture," which relies on implicit understandings and unspoken expectations.

Unlike "low-context cultures" in Western countries like Italy โ€” where employees typically adhere strictly to contracts โ€” Tahir said employers in high-context cultures may expect longer hours, additional responsibilities, and availability outside regular work hours, even if not explicitly outlined in contracts.

Tahir highlighted that this dynamic is particularly prevalent in the UAE's private sector, where expatriates form the majority.

"The expectation of long working hours is often deeply ingrained, with many expatriates feeling pressure to demonstrate commitment and loyalty through their availability," he said.

Tahir said: "This cultural difference can lead to misunderstandings, increased stress, and significant challenges in maintaining a healthy work-life balance for expatriates."

Foreigner drinks wine by pool in Dubai
Millions of foreigners are drawn to Dubai's luxurious, tax-free lifestyle.

SHansche/Getty Images

Despite the challenges, for some, the trade-offs are still worth it.

Fowler, the British expat in finance, feels the rewards outweigh the sacrifices.

Thanks to his work in Dubai, he has been able to afford a sports car, live alone, and travel extensively.

He said: "I have a much better life here than I had in London by a long way."

Read the original article on Business Insider

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