As a result of True North Communications’ $440 million acquisition of BJK&E last week, their new media units, True North’s TN Technologies and BJK&E’s Poppe Tyson, will be housed under new holding company True North Diversified Companies. TN officials denied that the units would merge, but sources said an initial public offering is expected following the combining of the two units. Together they are valued at $60 million.
EAGLE CLIPS WEB WING
Eagle River Interactive, Scottsdale, Ariz., has begun acquisition talks with Omnicom Group about yje company buying its interactive advertising services division. Eagle River wants to sell the unit in order to concentrate on its computer training business, which garnered some $21 million in 1996. The interactive unit was projected to bring Eagle River some $30 million in revenue this year and has done work for such clients as Disney, Toyota, Prudential and McDonald’s. Omnicom executives could not be reached.
The highly anticipated debut of online advertising firm PowerAgent is expected today. The Menlo Park, Calif.-based company will form a direct marketing network with technological support from EDS. Its executives include David Carlick, former Poppe Tyson executive vice president.
IQ News: deadline