Eskandarian Mulls Sale Options Sources: Chief Executive Has Signed a Letter of Intent to Sell Arnold

By Judy Warner





BOSTON–A desire to cash out of Arnold Communications while the agency is flying high led Ed Eskandarian some months ago to begin seriously considering his options.





Last week, industry sources said the chairman and chief executive officer of Arnold had signed a letter of intent to sell the $650 million shop to a nonadvertising related company.





Eskandarian would not comment when asked whether a letter of intent had been signed.





‘I’m not going to discuss any of this,’ Eskandarian said flatly last week.





Even so, the 60-year-old executive has been candid about his desire to retire from the business before turning 65 and cash out of the advertising agency that he built over eight years into the country’s 21st largest with billings of $650 million and revenues of $75 million.





Observers say the methodical Eskandarian has been driven in recent months to formulate a plan to cash himself out of the agency both...