MBS PARTNERS WITH MEDIACOM WORLDWIDE
By Adnews Staff
Media Buying Services of Toronto and New York-based MediaCom Worldwide Inc. formed a joint media service company called The Media Company/MBS yesterday. MediaCom Worldwide is Grey Advertising of New York's global media buying network. Rumors that MBS was seeking to sell itself to a multinational agency had been circulating for some time. Peter Swain, MBS' president, said one of the most important considerations in forming the partnership was that MBS will remain 100% Canadian-owned and will continue to operate as a separate company. Another crucial factor, Swain said, was getting access to MediaCom's technology, which includes a variety of sophisticated databases and planning tools. Alec Gerster, MediaCom's chairman, said that the partnership gives MediaCom a strong presence in Canada. He believes that in a few years there will be only a handful of branded worldwide media companies that will need to have access to talent on a worldwide basis. He added that MediaCom, which has 76 offices around the world, will be one of those companies and is seeking to team itself with the best partners in each global territory.