BJK&E Rejects Omnicom Buyout Offer
NEW YORK–Bozell, Jacobs, Kenyon & Eckhardt chairman Leo Kelmenson said late last week that the privately held company’s board of directors had ‘unanimously’ rejected an offer from Omnicom Group to purchase BJK&E. Kelmenson, who cited financial and ‘operational considerations’ as reasons for the rejection, said Chrysler Corp. had been notified of the decision. Terms were not disclosed. Omnicom president and chief executive John Wren declined comment. BJK&E remains in discussions with True North Communications in Chicago, sources said. TN chief executive Bruce Mason could not be reached. ‘This does not necessarily end the battle for Bozell between Omnicom and True North,’ said Abe Jones, a principal of AdMedia Partners here. ‘What it does, perhaps, is raise the ante.’
FCB and Snapple Split; Possible Review Looms
NEW YORK–Foote, Cone & Belding’s Chicago office said it resigned the $35 million Snapple account last Friday, citing a conflict with client Cadbury Beverages in Stamford, Conn. The move sets the stage for a possible flurry of agency changes by new Snapple owner Triarc Cos. in New York. Ken Gilbert, senior vice president of marketing for Triarc’s Mistic unit in White Plains, N.Y., said the company will decide during the next two weeks whether to reassign Snapple ad duties to current Mistic agency Deutsch in New York, or start an agency search involving Deutsch and about three other shops. ‘No single agency will get both brands,’ said Gilbert. ‘If Deutsch wins Snapple, we’d have to put Mistic into review.’ Deutsch recently won an ad project for Snapple to reintroduce the ‘Wendy’ character. Separately, Gilbert disputed FCB’s claim that the agency resigned Snapple. ‘We terminated (FCB) before they put out the release,’ he said.
Fidelity Moves From Houston to Hill, Holliday
BOSTON–Fidelity Investments last week moved an estimated $50-60 million national broadcast assignment from Houston Herstek Favat to Hill, Holliday, Connors, Cosmopulos, both in Boston. Houston Herstek chairman Doug Houston said the client told him the move was made to consolidate the bulk of its advertising at a single shop. Fidelity officials did not return calls.
Attention Agencies: RSVP to Procter & Gamble
NEW YORK–Procter & Gamble has invited its eight roster shops to pitch a consolidated assignment for its
$1 billion TV media buying and planning business in the U.S. Leo Burnett, Chicago, is the agency of record for print planning and buying. P&G outlined the parameters of the review in a letter mailed to agencies last week from director of worldwide media and programming Daryl Simm. P&G representative Kristen Hall said the client would not stop its roster shops from teaming up with outside buying services or forming media buying cooperatives with other P&G agencies to pitch the assignment. Presentations are scheduled for October, with a decision due in November.
Copyright ASM Communications, Inc. (1997) ALL RIGHTS RESERVED
Get Adweek's Brand Marketing Daily Newsletter in your Inbox
Today's highs and lows of creativity