Wrestling guru eyeballs Saatchi

ONE of the creators of World Wrestling Federation events is weighing up an audacious takeover of M&C Saatchi, the advertising agency caught in an accounting scandal.

City sources said Marc Boyan, an entrepreneur who made his fortune working with the Goldsmith family, has been eyeing M&C Saatchi since its share price crashed. Boyan worked for Martin Goldsmith, brother of music promoter Harvey Goldsmith, to set up World Wrestling Federation events in the UK.

He now runs sports and entertainment agency Reach4entertainment as well as the media investment fund Miroma Ventures. A source suggested Boyan’s chairman Lord Grade, a former chairman of ITV, may have approached M&C Saatchi to informally sound out a deal.

Sources said other parties, such as Next 15 Communications, are also mulling an acquisition pending an investigation into the scandal.

M&C Saatchi and a spokesman for Reach4entertainment declined to comment.