TITLE

True North will buy to fill its global gaps: CEO Bell

AUTHOR(S)
Chura, Hillary
PUB. DATE
June 1999
SOURCE
Advertising Age;6/14/1999, Vol. 70 Issue 25, p77
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article discusses the decision of True North (TN) Communications as of June 14, 1999 to give up plans of buying a third network and still continue buying agencies worldwide to fill gaps. With these plans, TN is aiming to increase its revenues by at least 7% to $1.3 billion in 1999--3% of which will be derived from new business and 4% from acquisitions. Under the leadership of David Bell, chairman-CEO of TN, the company has already spent more than $300 million in new business. However, Prudential Securities analyst Jim Dougherty thinks that the goal of TN is somewhat lofty for a company with international presence. And yet, boosting that international presence is a top priority for Bell.
ACCESSION #
1934001

 

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