DENTSU ACQUIRES STAKE IN B COM3
By Adnews Staff
Tokyo-based Dentsu Inc. has acquired a 20 per cent stake in B COM3 Group, Inc., the holding company formed as a result of the merger between The Leo Group of Chicago and The MacManus Group of New York. The stake is in accordance with an agreement signed between Dentsu and the two groups in November. Financial details were not disclosed. B COM3 was temporarily named BDM when the merger was announced. The new name was selected from suggestions submitted by employees of the three groups and is a combination of the words "beacon" and "communications". In addition to its stake in the company, Dentsu will hold two seats on the B COM3 board of directors. B COM3 plans to launch an IPO over the next year and a half. B COM3 is based in Chicago and has 500 operating units in over 90 countries. Its agencies include: the Leo Burnett Company, D'Arcy, Masius Benton & Bowles, N.W. Ayer, Bartle Bogle Hegarty, Starcom Worldwide and MediaVest.