Word: bbdo
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...latest new, improved giant-size deal, which was unveiled last week, will join BBDO International, the sixth-largest U.S. agency, with Doyle Dane Bernbach Group (No. 12) and Needham Harper Worldwide (No. 16). Combining - annual billings of nearly $5 billion, the menage a trois is the biggest advertising group the world has ever seen--for now. Says BBDO Chairman Allen Rosenshine, who will head the new holding company, not yet named: "We are the biggest--but maybe only for ten minutes...
...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...
...This week the company will announce that Bruce Crawford, 55, president of the BBDO International advertising agency, will succeed Anthony A. Bliss as Met general manager...