TRUE NORTH BUYS BOZELL
By Adnews Staff
True North Communications of Chicago has bought Bozell, Jacobs, Kenyon and Eckhardt, Inc. of New York in a deal worth about $440 million(US). The move gives the company $11.5 billion in billings, over 11,000 employees and 297 offices around the world. In Canada, Bozell Worldwide president Liz Torlee told Adnews yesterday that there will be no changes at the Toronto agency in terms of operations. It will act as an independent agency so none of its current accounts will be affected by conflicts. The deal will allow Bozell to go after global accounts and offer a more diverse array of services. As a result of the merger, True North now has two independent global advertising agencies: Foote, Cone & Belding Worldwide and Bozell Worldwide. It also adds Bozell's interactive digital agency, U.S.-based Poppe Tyson and healthcare agency U.S.-based Temerlin McClain, as well as PR firm, Bozell Sawyer Miller Group. The agreement includes over a dozen communications companies or holdings.