Word: bbdo
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Dates: during 1980-1989
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...Saatchi took over twelve companies last year. Flush with $600 million raised through a stock offering, Brothers Charles and Maurice Saatchi are prowling for more prey and are determined to build the world's largest agency. Doyle Dane Bernbach turned down a Saatchi offer before deciding to merge with BBDO and Needham; so far, Ted Bates has also ducked Saatchi's advances. Says Abbott Jones, president of the Chicago-based Foote, Cone & Belding agency ($1.9 billion): "It's hard to say where a company like Saatchi, with such deep pockets, will strike next...
...BBDO ($2.5 billion), the three-way marriage mostly represents more of a good thing, taking it from sixth to first place in the agency rankings. BBDO has been on a roll. It won top awards last year for its Pepsi ads. Last week Pepsi signed one of its most celebrated pitchmen, Singer Michael Jackson, to a new $10 million three-year contract, the largest such deal for a single product in advertising history...
Mergers almost invariably bring together some competing clients. But the new holding company has been structured as two separate agency networks in the hope that valued clients will stay. BBDO will be one agency, while DDB and Needham will make up the second. "There will be two equals," insists Needham Chairman Keith Reinhard, who will head the DDB-Needham network. "There's not going to be a low-priced spread here." A third entity, called the Diversified Agency Group and headed by DDB President Barry Loughrane, will consist of specialty marketing and advertising services...
...when Needham announced that some of its executives were buying the company's Los Angeles office and forming a new agency of their own, taking along Honda and other clients. Automotive clients still represented by parts of the new holding company are Volkswagen and Audi (DDB) and Chrysler-Dodge (BBDO...
...coming months as they are picked over by the giants that are out shopping. But even some of the larger agencies will doubtless hear the footsteps of cash-rich competitors. Before it is over, the current wave of consolidation in advertising may produce agencies that will dwarf even BBDO's new three-part giant. As Mary Lou Retton might put it, "Watch out, big boys...