Wasserman Media Group "has acquired" N.Y.-based social media agency Laundry Service in a move that "bolsters the marketing services offering" at the sports and entertainment company, according to Alexandra Bruell of AD AGE. The acquisition means Wasserman "gains access to Cycle, Laundry Service's network of more than 1,000 social media influencers run by Liz Eswein." Laundry Service's content is "produced in house by Cycle's fleet of Instagram photographers, many of whom the shop also manages and connects with brands." Wasserman Media Group Founder, Chair & CEO Casey Wasserman said, "The ability to create and add value for clients both on the athlete and brand side is significant." He added that on the representation side of the business, Laundry Service may "help Wasserman's athletes 'drive and build their social engagement in ways they haven't before.'" Bruell noted for Laundry Service, the sale "provides greater access to a roster of influential athletes, entertainment marketing services and media rights and licensing strategies that will complement the 80-person shop's digital content production and media buying strengths" (ADAGE.com, 4/20).
