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Deal Would Give Former 3 Big Accounts, End Latter’s Cash Woes
BOSTON–Arnold Communications chairman Ed Eskandarian is in negotiations to buy troubled crosstown rival Houston Herstek Favat. Should the deal go through, Houston Herstek would be absorbed by Arnold and provide an exit for beleaguered agency founder Doug Houston.
Eskandarian confirmed the negotiations. “Any agency would like to have the terrific people, great work and excellent clients they have,” he said. Though Houston Herstek lost $100 million in billings this year when clients such as Fidelity Investments and NEC Computer Systems defected, Eskandarian apparently believes the shop still has valuable assets.
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