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NEW YORK Former Interscope Records executive Steve Stoute has branched out to open a multicultural advertising agency in partnership with recording artist Shawn “Jay-Z” Carter and Interpublic Group.
IPG, which in October acquired Stoute’s Translation Consultation + Brand Imaging, has taken a 49 percent stake in the new agency, which is called Translation Advertising. Stoute, 37, and Carter, 38, own the rest.
Translation Advertising will specialize in creating ads that are intended to appeal to African-Americans and more broadly, multicultural consumers.
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