OMNICOM TO BUY HYPN
By Adnews Staff
Toronto-based Harrison, Young, Pesonen & Newell is becoming part of New York-based Omnicom Group. Omnicom has signed an agreement in principle to buy HYPN. The deal is expected to close by December. HYPN made the move because "you have to be aware that fewer decisions about advertising are being made in Canada," agency president and CEO David Harrison told Adnews yesterday. While the media management company has not been affected yet by international realignments, "we will have difficulty in the future so we thought about looking for a partner." HYPN will continue to act independently, but the agency will have access to Omnicom's global resources and experience. The principals of HYPN are Harrison, planning and research senior vice-president Rob Young and media buying operation senior vice-president Doug Newell. HYPN's client list includes Thrifty's, American Express, Honda Canada, Gilbey, Sprint Canada, Club Monaco and Hershey Canada.