'Madison Avenue Legends' Critique Their World

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NEW YORK Agency consolidation under a handful of parent companies, a trend that began in the 1980s, will inevitably continue, as exemplified by WPP Group’s deal this month to buy Grey Global Group for $1.3 billion, legendary ad chieftains said during a 90-minute panel discussion.

The trend doesn’t spell the end to competition or creative innovation, however, panelists such as DDB’s Keith Reinhard and Young & Rubicam’s Ed Ney said.

“It’s

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