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IPG Nears $10 Mil. Equity Deal With Networking Site Facebook
NEW YORK IPG is in final negotiations of a partnership deal with social networking site Facebook that would give the holding company a small piece of the operation, the companies confirmed. The pact, which could be completed this week, calls for IPG to spend up to $10 million for clients on Facebook in exchange for a 0.5 percent stake in the startup, per sources. Such a deal would give IPG opportunities beyond display advertising to include IPG mining Facebook for market research trends among its user base, according to sources.
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