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'Acquiring businesses, not being acquired': Matt Nunn on $40m of new business and holding companies 'ringing up trying to steal our staff'


While Nunn isn’t interested in the ‘independents versus holding companies’ proposition – “I think it’s more about good businesses” – he’s watched the pool of indies expand and contract over the years.
“There’s not too much that has happened in this industry that I haven’t seen over the 18 years,” he says.
“There’s been a lot of independents come and go. Some sell out, people come back and all of a sudden there’s people in holding companies that leave the holding companies and start up their own independents and some work, some don’t work.”
There’s a big difference between those that work and those that don’t, according to Nunn: scale. He acknowledges that “getting scale in the media agency scene in Australia [as an independent] is extremely difficult”. ....

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