WPP Group acquires stake in iconmobile

British communications conglomerate WPP Group PLC announced it acquired a 40 percent stake in Germany mobile marketing and video service provider iconmobile GmbH. Financial terms of the deal were not disclosed. Iconmobile is best known for its mobile soap opera "Mittendrin--Ninas Welt," which boasts a subscriber audience of more than 75,000 viewers. The acquisition is just the latest in a series of moves spearheaded by WPP Group chief Sir Martin Sorrell in his ongoing efforts to position the firm as a film and television player--earlier this week, WPP announced it acquired a 6.8 percent stake in Media Rights Capital, the Hollywood financing company (owned in part by talent agency Endeavor) responsible for bankrolling features including last year's critical smash "Babel."

For more on the WPP/iconmobile deal:
- read this Forbes article