Droga5 Sells Sizable Stake to WME

Deal pegged at $115 million

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Droga5 will sell a large minority stake to William Morris Endeavor, the companies announced Thursday.

The deal, estimated at $115 million for 49 percent of the agency, follows Droga5's wildly successful 2012. Last year, the shop added work for a range of Coca-Cola and Mondelez brands. In 2013, it picked up the lead creative role for clients like Google's Motorola.

Still, a deal valuing the agency in the neighborhood of $230 million might seem high, given Droga5's estimated $59 million in 2012 revenue.

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