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March 13, 1993|From Times Staff and Wire Reports

Omnicom to Buy TBWA: Omnicom Group, one of the world's largest advertising organizations, has agreed to buy TBWA International, the ad agency perhaps best-known for creating the Absolut vodka print campaign. The companies, both based in New York, said the deal will involve an exchange of an unspecified amount of Omnicom stock for all the shares of privately held TBWA. Ad industry analysts estimate the deal to be worth in excess of $100 million. TBWA would become Omnicom's third global ad network along with BBDO Worldwide and DDB Needham Worldwide. Omnicom's worldwide billings will now exceed $11.4 billion.

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