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Kovel Kresser Attempts Management Buyback
LOS ANGELES–The management team at Kovel Kresser & Partners is negotiating a buyback of the $30 million agency from its owners, Asatsu DK, Tokyo, which owns KKP parent Dai Ichi Kikaku (DIK), also in Tokyo, sources said last week. Agency chief creative officer Lee Kovel confirmed the talks. “We’re nearing an agreement,” said Kovel. “We hope to have this deal consummated in the next few weeks.” The Venice, Calif.-based agency handles roughly $30 million in billings from clients such as Playboy, Countrywide Home Loans and Carrow’s.
4 Contenders Visit Porsche in Germany
CHICAGO–Officials from four of the agencies participating in Porsche Cars North America’s creative review were in Germany last week to tour the automaker’s facilities and hold chemistry checks with its executives. Porsche welcomed executives from Leagas Delaney, San Francisco; The Richards Group, Dallas; Carmichael Lynch, Minneapolis; and WestWayne, Atlanta, according to sources. Kowloon Wholesale Seafood Co., Santa Monica, Calif., which works with Porsche on a project basis, was not in attendance. Presentations for the creative portion of the $15 million account are set for mid-February. Creative Media, New York, will keep media planning and buying. Goodby, Silverstein & Partners, San Francisco, split with the Atlanta-based car maker last year.
Bishop Named President of Anderson & Lembke
LOS ANGELES–Nick Bishop has been named president and chief executive officer of San Francisco-based Anderson & Lembke, a part of McCann-Erickson WorldGroup. He replaces Mike Windsor, who left last year. Bishop, who has held several positions internationally within the McCann-Erickson Worldwide network, is currently managing director and chief executive of McCann’s Sydney, Australia, office. He assumes his new post Feb. 15.
Reviews Roundup … Discover Card Narrows to 6
CHICAGO–Discover Card is looking at six finalists for its $70 million business, including incumbent DDB Needham Chicago. The others competing for the Riverwoods, Ill.-division of Morgan Stanley, Dean Witter & Co., are Leo Burnett, Chicago; Goodby, Silverstein & Partners, San Francisco; Lowe & Partners/SMS, New York; The Martin Agency, Richmond, Va.; and TBWA/Chiat/Day, Playa del Rey, Calif. A decision is expected at the end of March. … Golden Grain, Pleasanton, Calif., a division of Quaker Oats in Chicago, has selected three finalists in the review for an estimated $15-20 million assignment to launch a new product that is still in development. The contenders are Goodby, Silverstein & Partners and Gardner, Geary, Coll & Young, both San Francisco; and Suissa Miller, Los Angeles. A decision is expected in February. Select Resources International in Los Angeles, which is handling the review, declined to comment.