Too Many Differences for Fahlgren, HMS Merger

There was a lot that made sense about the merger of Fahlgren and HMS/Hallmark, and a price had been agreed upon.

But ultimately, the heads of the two agencies and Rick Milenthal, CEO of HMS/Hallmark’s holding company HMS Partners, couldn’t agree on how the combined agencies should be run. Talks broke off last week, and the deal between the two Columbus, Ohio-based companies appeared dead.

“The closer we got, the more the differences between us became apparent,” said Steve Drongowski, CEO of Fahlgren.

The two shops signed a letter of intent on a merger late last month [Adweek Feb.