Starcom, MediaVest Merger Part of Company's Long-Term Plan
CHICAGO--Last week's merger of Starcom and MediaVest operations in Mexico represents another step in B COM3's effort to create an umbrella media operation, officials said.
"We have pledged to each other that we are going to build the best media company we can," said Michael Moore, chairman and chief executive officer of MediaVest Worldwide. "We've been saying we want to go market by market because that's where you've got to start."
The new entity will take the Starcom brand, but be led by Media-
Vest's Latin America president Nancy Mullahy. She replaces Starcom's Miguel Angel Ruiz, who left the company, officials said. Mullahy will also serve as deputy Latin American regional managing director as the company searches to fill that post permanently.
The new Starcom Mexico will be the market's second largest media company with $350 million in annual billings. Clients on the roster include Procter & Gamble, Coca-Cola, General Motors and Philip Morris. The company will have approximately 100 employees, 80 percent of them from Starcom.
The merger is another piece in B COM3's previously announced plans to merge its Starcom and MediaVest operations in markets where a lack of client conflicts, among other factors, allow, Moore said. Since the The Leo Group and The MacManus Group announced their intentions to merge last November, the two media companies have won business as joint operations in China and Greece.
The company has said it is not looking at a merger in the U.S. and the U.K.
Part of the plan is to have both media operations under one umbrella reporting directly to B COM3, Moore said. K