NEW YORK: An announcement is expected imminently to confirm the
merger of Weber Shandwick Worldwide (WSW) and BSMG, PRWeek can reveal.
The merger will create the largest PR agency in the world, with revenues
of over dollars 500 million.
Rumors of a merger between Interpublic Group-owned WSW and True North's
BSMG emerged in early June, and negotiations have been progressing with
"exceptional speed," according to a source.
With the True North acquisition now a done deal, an announcement is
expected later this week confirming the appointment of BSMG CEO Harris
Diamond as CEO of the new entity. WSW CEO Larry Weber will retain
responsibility for the Allied Communications Group.
The name of the new operation is still under discussion, but as the
younger of the two, it is thought that the BSMG moni-ker will likely be
WSW president and COO Marijean Lauzier has already left WSW, two months
ahead of her expected September departure. It is not known what role WSW
chairman Scott Meyer will play.