Envoy sells John Street to agency management
By Adnews Staff
Envoy Communications Group has sold its subsidiary John Street to the management of that Toronto-based advertising agency. According to Envoy, the transaction will result in a net gain for the group of approximately $1.9 million. John Street's services include creative development, planning, advertising production, media planning and media buying. "At this point in time we believe that the sale of John Street is in the best interests of Envoy and its shareholders," said Envoy president Geoff Genovese. "John Street was an investment and was no longer consistent with our strategic direction. It did not impact our profitability this fiscal."
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