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Interpublic Merging 2 Ad-Buying Units

October 06, 1998|Denise Gellene

Interpublic Cos., a New York-based advertising holding company, is combining two media-buying units--Western International Media of Los Angeles and Initiative Media Worldwide of Paris--into a single entity, Western Initiative Media Worldwide. The new unit will have billings of about $10 billion. The move is another sign of consolidation in the advertising business, with agencies assembling global networks to serve increasingly expansion-minded clients. Interpublic media executive Larry Lamattina becomes chairman and chief executive of the new entity. Interpublic's ad agencies, including Dailey & Associates in Los Angeles, are being encouraged to buy media advertising through Western Initiative, a representative said.

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