NEW YORK: Ogilvy became the most recent PR firm to go Hollywood last week, acquiring dollars 8 million entertainment shop Baker/Winokur/Ryder (B/W/R) in a rumored dollars 12 million cash-only transaction.
NEW YORK: Ogilvy became the most recent PR firm to go Hollywood
last week, acquiring dollars 8 million entertainment shop
Baker/Winokur/Ryder (B/W/R) in a rumored dollars 12 million cash-only
transaction.
The deal, which had been expected for several weeks, follows
McCann-Erickson’s purchase of PMK and talent agency Creative Artists
Agency taking a stake in Shepardson Stern + Kaminsky.
But what may be most significant is what it means for the other agencies
vigorously pursuing entertainment firms, some of which will inevitably
be left without a dance partner. ’Most traditional agencies didn’t build
their own capabilities in this area,’ said Ogilvy CEO Bob Seltzer, who
estimated that five big-name firms are shopping for an agency of B/W/R’s
status.
Founded in 1979, B/W/R is known for its glittering roster of
celebrities, including Brad Pitt and Leonardo DiCaprio. The firm boasts
a new media arm and clients ranging from Kodak to Playboy.
The deal fills several voids for both parties. For Ogilvy, adding B/W/R
lends credibility to what was previously a lightly regarded
entertainment practice. For B/W/R, the deal ups its access to IR and
other resources, and allows the firm to extend work for clients like
Disney. ’Before, we only had a segmented role,’ co-founder Larry Winokur
said.
The most visible upshot of the deal may come via the pairing of B/W/R
celebrities with Ogilvy pharmaceutical, government health education and
hi-tech clients. For instance, it’s not difficult to imagine B/W/R
client Michael J. Fox, currently undergoing treatment for Parkinson’s
Disease, working with a healthcare client that produces Parkinson’s
therapies.
