WPP may share Sorrell libel trial costs - report |
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Tue, 27 Mar 2007 13:11
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LONDON (AFX) - The costs of Sir Martin Sorrell's ongoing libel trial could be subsidised by his advertising group WPP, the company has admitted, reports the Guardian newspaper on its web site.WPP's board will meet to decide how much of the trial's costs and potential damages will be funded from company funds and how much met by chief executive Sorrell's estimated 100 mln stg fortune, the newspaper said.Sorrell has brought the libel action in his own name. However, the company argues that the litigation stems from corporate action taken by WPP last year, when it fired its Italian country manager, Marco Benatti, one of the two men Sir Martin accuses of defaming him on internet blogs.'The action was taken in his name, but we would not be here had Martin not terminated Benatti, which was a WPP action,' a WPP spokesman told the Guardian.WPP could not immediately be reached for comment.nick.huber@afxnews.comnh/bsdCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.AFX News and AFX Financial News Logo are registered trademarks of AFX News Limited
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WPP's Sorrell 'horrified' at criminal claims in libel case 