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Parent’s Internet Focus, Loss of AT&T Change Relationship
CHICAGO–The president of YAR Communications said last week he may consider buying the company back from The Leap Group after his largest account was folded into the sale of Leap’s ethnic subsidiary to Young & Rubicam.
Leap’s pending sale of its One World Communications unit to Y&R includes Asian American agency Kang & Lee and YAR’s AT&T business, but not YAR Communications itself, which Leap keeps. The sale price was estimated by sources at between $10 million and $15 million [Adweek, July 27].
“The new management of Leap takes a different approach [to the business],” said Yuri Radzievsky, YAR’s president and chief executive officer, who was left out of the sale negotiations with Y&R.
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