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Report: Target in talks to acquire WPP's digital ad unit Triad

U.S. supermarket chain Target Corp. is holding discussions to acquire WPP PLC's Triad Retail Media in a bid to bolster its digital advertising business, The Wall Street Journal reported May 23, citing people familiar with the matter.

The talks are at an early stage and could break down, the sources said.

Triad specializes in selling ad spaces on retail websites and other digital platforms, as well as the creation of digital ad campaigns.

London-based WPP purchased Triad from private equity firm Rockbridge Growth Equity LLC in 2016 for approximately $300 million.

Target and WPP did not immediately respond to requests for comment from S&P Global Market Intelligence.