Word: backers
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Dates: during 1980-1989
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...halt the exodus, the Saatchis divided their advertising empire into two separate international networks. Backer & Spielvogel was merged with Ted Bates, while Dancer Fitzgerald Sample and Compton were combined to form Saatchi & Saatchi Worldwide. Says Carl Spielvogel, chairman of the merged Backer Spielvogel Bates network: "We don't cooperate with the other network in any way. We compete for the same clients." Simultaneously, lesser Saatchi- owned agencies were arranged in smaller groups...
...helped fuel a merger frenzy as other agencies joined forces to stay in the game. Meanwhile the brothers bought and bought. Among the dozens of U.S. firms they scooped up were top names like Compton Communications (purchased in 1982 for $55 million), Dancer Fitzgerald Sample (1986, $75 million) and Backer & Spielvogel (1986, $100 million...
...York City and in London, where the corporate staff last year moved into a glossy new global headquarters on sedate Berkeley Square. In addition, five of the firm's twelve directors left. As rumors of further shake-ups spread, Carl Spielvogel offered in July to buy the Backer Spielvogel Bates network. Charles Saatchi declined...
Revenues spiraled as the Saatchis bought up rival ad agencies, including Dancer Fitzgerald Sample, Backer & Spielvogel, and Ted Bates in 1986. But returns on the investments dropped sharply as management failed to meld the pieces into a smoothly run global company...
...these people--we are on two different sides of the fence yet we're having coffee together," said Salim E. Kabawat, a backer of the Indepdenent slate...