CP&B Sells Stake

Crispin Porter & Bogusky’s decision to partner with Maxxcom was driven by a need for capital and a desire to play a significant role in the Cana dian network’s growth, sources said.

“It was important to be part of an organization at the beginning of its life cycle rather than the end,” said Chuck Porter, chairman of the Miami agency. “If we’d done a deal with one of the big networks, I doubt their No. 1 priority would be to grow our brand.”

Maxxcom, an agency holding company owned by diversified Toronto-based conglomerate MDC Communications, has agreed to purchase a 49 percent stake in CP&B.

The deal, which was initiated at last year’s 4A’s conference in Ber-muda, is still being finalized.