Word: ssc
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Dates: during 1970-1979
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...world's largest ad firm last week really was a stunner. Announcing the biggest merger in Madison Avenue history, the Interpublic Group of Companies, the Manhattan-based agency holding company that is the industry's General Motors (1978 billings: $1.9 billion), announced that it was acquiring SSC & B, the U.S.'s eighth largest agency (billings: $750 million), for an undisclosed price. The acquisition of SSC & B (formerly Sullivan, Stauffer, Colwell & Bayles) would boost Interpublic's combined billings to more than $2.6 billion, making it almost twice the size of its nearest international rival, Japan's Dentsu, and all but dwarfing...
...deal, which is expected to get easy approval from both firms' stockholders, would further increase Interpublic's foreign business, which already accounts for 53% of its revenues ($248.5 million last year). Three-fourths of SSC&B's revenues ($113 million) came from abroad last year. Besides a solid roster of packaged-goods clients (Lever Bros, and American Brands, among others), SSC&B has a reputation for market-research savvy as well as a strong management. Says Interpublic Chairman Paul Foley: "In an acquisition like this, you look for the best professionals. That's the real asset you acquire...
...deal will help SSC&B to act on a long-postponed plan to buy out the 51% of the Lintas agency network still owned by Unilever, the British-Dutch food, detergents and toiletries concern. SSC&B bought 49% of Lintas from Unilever in 1970, but until now has been unable to pull together enough capital to make good on an option to buy the rest...
...SSC&B will become the fifth agency under the tent of Interpublic, a company founded on the still somewhat radical idea that an advertising enterprise can prosper by acquiring a lot of firms that are allowed, even encouraged, to compete with one another. The firm's mainstay remains McCann-Erickson, which bills more than $1 billion annually in ads from a long list of blue-chip clients, including Miller Brewing and Exxon. The Marschalk agency, which was a small outfit when McCann-Erickson bought it in 1955, is now one of the fastest-growing U.S. ad firms, handling such heavyweights...
Springfield's attack was especially awesome in the weight events. In the shot put, javelin, and discus alone SSC outscored the 'Cliffe, 26-1. Debbie Vogel prevented a clean sweep for Springfield by placing third in the shot...