Saatchi’s Revenue Grows 5.9 Percent
NEW YORK–Saatchi & Saatchi said worldwide revenues rose 5.9 percent to $602.6 million
last year. Chairman Bob Seelert attributed the growth to $500 million in new billings, including more than $200 million in the U.S. “North America was the driving engine of our growth,” Seelert said. Saatchi’s stock rose seven points in Britain to close at 190 1/2 pence after the announcement on Thursday. In the U.S., the stock grew just over a half a point to close at $15 1/2.
Cordiant Posts Full-Year Gain
NEW YORK–Cordiant Communications Group, the London-based holding company for Bates Worldwide, said preliminary results for the year ended Dec. 31 indicate it will earn a pre-tax profit of nearly $42 million. Although revenues decreased from approximately $510 million to $482 million, in consideration of constant exchange rates it was up 5 percent. CCG also reported that net new business wins in 1998 more than doubled from $250 million to $580 million.
Hill, Holliday Forms Executive Committee
BOSTON–Hill, Holliday, Connors, Cosmopulos, an Interpublic Group agency, has formed a new
executive committee from which chief executive Jack Connors will select his successor within the next two years. The group consists of president Fred Bertino; chief operating officer Joe Norberg; executive vice presidents Brian Carty, Terry Carleton, Rob Scalea and Don White; and senior vice president John Connors, the chairman’s son.
Nortel’s New Image Comes Together
DALLAS–Nortel Networks last week launched an ambitious image campaign that utilizes the classic Beatles tune “Come Together” to accent the convergence of its various communications technologies. A 60-second TV spot bowed Friday via Temerlin McClain in Irving, Texas, and New York-based TN Media. The ad shows a videoconference speaker delivering the song’s lyrics (“Here come old flat-top/Come grooving up slowly”) in a monologue. The tagline: “How the world shares ideas.”
Lowe’s Home Centers Draws Up List
ATLANTA–The incumbent and five agencies will advance in the pitch for Lowe’s Home Centers’ $100 million account. The shops joining Doner in Southfield, Mich., are: Leo Burnett in Chicago; TBWA/Chiat/Day in Playa del Rey, Calif.; J. Walter Thompson in Detroit; and D’Arcy Masius Benton & Bowles and McCann-Erickson, both in New York. The six will complete a creative assignment.
Dairy Management Cuts to 4
CHICAGO–Dairy Management in Rosemont, Ill., has selected four agencies to compete for creative duties on its $29 million ad business. Finalists are DDB Needham and Euro RSCG Tatham, both in Chicago; Goodby, Silverstein & Partners in San Francisco; and BBDO in New York. A decision is expected in May. DMI split with Leo Burnett earlier this year. Media is handled by Bozell Worldwide, which also handles DMI’s fluid milk creative.
Thomas Morelli was named senior vice president, director of media planning for product accounts, a new position at Bates USA in New York. Morelli, 41, who was at William Eisner & Associates in Milwaukee, reports to Kevin Coyne, director of media and new technologies at Bates North America. Vice president Richard Anderson was appointed to senior vice president, associate media director DraftWorldwide, Chicago, will provide direct marketing capabilities to fellow Interpublic Group shop Ammirati Puris Lintas in multinational business pitches and for existing global clients under a partnership agreement unveiled last week MDC Communications, as expected, said it will acquire a majority interest in Minneapolis-based Colle & McVoy [Adweek, March 8]. Under terms of the deal, Toronto-based MDC will purchase 80 percent of the agency for $19 million Foote, Cone & Belding, New York, today breaks new work for Kraft’s Cool Whip. Two executions feature The Capitols’ 1950s song “Cool Jerk,” updated with the lyric: “Do the Cool Whip!” Toysmart.com tapped Arnold Communications in Boston over Partners & Simons in Boston and Carat Freeman in Newton, Mass., for its first integrated marketing campaign. The online company in Waltham, Mass., formerly Holt Educational Outlet, said it will spend $10 million to promote its site Tandy Corp. is expected to name Dallas agency Dieste & Partners as the new Hispanic shop for its Radio Shack stores, in what sources said was a $5-10 million account. Dieste defeated Bromley, Aguilar & Associates in San Antonio and Casanova Pendrill Publicidad in Irvine, Calif. Young & Rubicam’s Bravo Group in New York was the incumbent, but did not defend The Blum Group here resigned Remy Amerique’s Mount Gay Rum business. President Alan Blum said the account did not fit into the agency’s “overall plans for long-term growth.” Spending on what was once a $2 million account had dwindled to less than $500,000. Clockwork Advertising in Atlanta and George Hoyos & Associates of Bridgetown, Barbados, are now pitching the business.
For the Record
Long Haymes Carr which last week hired Mylene Pollock as chief creative officer, is located in Winston-Salem, N.C., [Adweek, March 8]
Saatchi’s Revenue Grows 5.9 Percent