Cordiant Acquisition Consolidates Hyundai Account
NEW YORK–Cordiant Communications Group is acquiring an 80 percent interest in Diamond Ad Ltd., an agency that handles advertising in Korea for Hyundai’s automobile, electronics, securities, engineering and construction businesses. Cordiant is expected to spend approximately $24 million on the purchase and will assume some of the company’s debt. Since Cordiant’s Bates Worldwide is the principal Hyundai agency, the acquisition will create a consolidated global Hyundai account.
Fraser, McDonagh Named Co-Presidents at O&M
LOS ANGELES–Ogilvy & Mather’s office here has reshuffled management. Angus Fraser and Joe McDonagh have been named co-presidents, replacing Jerry McGee, who moves into the new post of chairman and chief executive officer. McDonagh joined the agency as executive vice president and creative director nearly a year ago from Saatchi & Saatchi Los Angeles. Fraser previously was managing director of O&M’s Houston office. to Consider Agencies
CHICAGO–, a recently announced Internet joint venture between Kmart Corp. and Yahoo!, will likely choose an advertising agency by the end of the first quarter. A full-scale review is unlikely before January. Yahoo!’s agency, Black Rocket in San Francisco, and Kmart’s lead agency, Campbell Mithun Esty in Minneapolis, will likely participate. Billings were undisclosed.
Citron Breaks New Spots for The Good Guys
SAN FRANCISCO–Citron Haligman Bedecarre, San Francisco, unveiled two new TV spots last week for The Good Guys electronics stores. Since moving to Citron last year, the client has focused mainly on radio and print.
Accounts Roundup … K&S Lands GreatDomains, a broker of Internet domain names, awarded its $10 million account to Kalis & Savage. The Pacific Palisades, Calif., agency will create a national print campaign for the Los Angeles-based client. Ads will aim to generate awareness of affordable, potentially valuable investment opportunities. …, a real-time restaurant reservation network, selected Odiorne, Wilde, Narraway & Partners as its agency. The company will leverage its estimated $5 million first-phase ad plan to drive widespread consumer awareness and get more restaurants to register. OWN&P, San Francisco, will handle creative and media buying through its relationship with Western Initiative Media, Los Angeles, to support the national expansion. The San Francisco company also has offices in New York, Chicago, Seattle, Boston and Washington, D.C. … J. Walter Thompson’s San Francisco office landed ad duties for Billings were undisclosed. … Advantica Restaurant Group is poised to move its Carrows ad account from Kovel/Fuller to roster shop J. Walter Thompson. Billings are an estimated $6 million. JWT, San Francisco, also handles Coco’s, another Advantica restaurant unit.
For the Record
Ogilvy & Mather, Los Angeles, dropped out of the review before the final round [Adweek, Dec.13].