Word: bbdo
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...history were announced within two weeks of each other. The power of the newly created superagencies and the vast riches that changed hands in the transactions stunned the ad industry for weeks. The first jolt was the three-way agreement in April to merge the sixth largest U.S. agency, BBDO International, with Doyle Dane Bernbach Group (No. 12) and Needham Harper Worldwide (No. 16). Their combined annual billings of $5 billion made the new agency, now called Omnicom Group, the world's biggest -- for a moment anyway. The commotion reached another peak two weeks later, when Britain's acquisitive Saatchi...
...executive suite at Omnicom, where former BBDO Chairman Allen Rosenshine is in charge, has been comparatively tranquil. "It seems to be working," observes Harry Paster, executive vice president of the American Association of Advertising Agencies. "They have added some strengths to each agency that they didn't have individually." But Omnicom has a worrisome growing pain: the refusal of some advertisers to deal with an agency that handles any archrival products. The merger of three agencies brought together under one roof many combinations of fiercely competitive consumer goods. Pillsbury, for example, which had cake and frosting accounts with Omnicom, withdrew...
King of Madison Avenue? No agency can hang on to that crown for long these days, thanks to an epic acquisition binge. Only two weeks ago, the merger of three large firms--BBDO International, Doyle Dane Bernbach Group and Needham Harper Worldwide--created the biggest agency in the world (estimated annual billings: $5 billion). But that superdeal appeared to have been surpassed last week when London's Saatchi & Saatchi agreed to buy Manhattan-based Ted Bates Worldwide for an estimated $350 million. Those two companies, which are expected to announce the deal early this week, will have billings of about...
...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...