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LOS ANGELES Japanese advertising agency Hakuhodo has acquired a minority stake in Mendelsohn/Zien, the shop confirmed.
M/Z founders and managing partners Richard Zien and Jordin Mendelsohn will retain a majority interest in the 50-person shop, which claimed 2002 billings of $202 million.
The deal comes after nearly two years of conversations with Hakuhodo, said Zien, who is also president of the Los Angeles shop.
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