STARCOM WORLDWIDE ACQUIRES MEDIA ESTRATEGIA
By Adnews Staff
Starcom Worldwide, a division of The Leo Group, has announced it has acquired Media Estrategia of Madrid. Media Estrategia is the fifth ranking media company in the Spanish market with 1998 billings of US$200 million. The merged company will be renamed Starcom Worldwide Media Estrategia. The acquisition increases Starcom's presence in the European markets with offices of Starcom Worldwide Media Estrategia operating in Barcelona, Lisbon and Portugal. Media Estrategia's client roster includes: Yamaha, Toyota, Hyundai and Paramount, in addition to eight advertising agencies. Starcom's clients in Spain include: Procter & Gamble, Philip Morris, Levi's and Schroders. Jose Luis Sanchez will head up the merged company as president and chief executive officer. Sanchez was president and a founder of Media Estrategia. Prior to Starcom acquiring Media Estrategia, it has to resigned its stake in the Equmedia buying consortia in Spain. Bob Brennan, chief operating officer of Starcom Worldwide said the first order of business will be to integrate Starcom's operating model into Media Estrategia's operations. Financial details of the deal were not disclosed.