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In what could portend a trend for this kind of agency network, Worldwide Partners has been acquired by its 90 independent member shops.
In acquiring the 63-year-old, Aurora, Colo.-based network, which had $4.2 billion in billings last year, members received an undisclosed amount of stock in exchange for their membership dues, said WP representative Paul Davidson. Each agency has an equal stake.
“Ownership is different than membership,” said Patricia Fiske, who remains WP president and CEO.
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