NEW YORK: The Leo Group and The MacManus Group - parent of Manning, Selvage & Lee - announced plans to merge last week, creating a dollars 1.7 billion communications behemoth, the fourth largest in the world.
NEW YORK: The Leo Group and The MacManus Group - parent of Manning,
Selvage & Lee - announced plans to merge last week, creating a dollars
1.7 billion communications behemoth, the fourth largest in the
world.
The new company, based in Chicago and temporarily dubbed ’BDM,’ will
oversee 16,000 employees in 500 operating units in 90 countries.
MS&L CEO Lou Capozzi said the merger holds several benefits, including
the chance to work with blue-chip Leo clients such as McDonald’s and
Walt Disney (MS&L currenly handles Disney Online). Leo, parent of Leo
Burnett Advertising, and MacManus - both now privately owned - have
announced their intentions to take the merged business public next year,
which will provide MS&L with a war chest to pursue acquisitions.
’This is a plus for MS&L, as they can now hunt for assignments among the
clients in two big operations,’ said Porter Novelli CEO Bob
Druckenmiller.
Although Leo’s PR holdings are not substantial, it does operate in areas
where MS&L lacks an owned office. For instance, Leo owns MS&L’s South
African affiliate.
