Interpublic Group Of Companies Inc

Lowe's Companies Inc., the home improvement retailer, said it named New York-based McCann-Erickson its agency of record and awarded the agency its $100-million broadcast account. The agency, a unit of the Interpublic Group of Companies Inc., will develop Lowe's creative broadcast campaigns. It will also be responsible for strategic planning and media buying for magazines, radio, television and billboards.

Seven advertising and public relations firms owned by the Interpublic Group of Companies Inc. will consolidate their offices at the Pacific Design Center in West Hollywood as part of a $40-million lease announced Monday. The firms will take 145,500 square feet including the top three floors of the nine-story green building at 700 San Vicente Blvd. Some of that space has never been occupied even though the building was completed in 1988, landlord Charles S. Cohen said.

Seven advertising and public relations firms owned by the Interpublic Group of Companies Inc. will consolidate their offices at the Pacific Design Center in West Hollywood as part of a $40-million lease announced Monday. The firms will take 145,500 square feet including the top three floors of the nine-story green building at 700 San Vicente Blvd. Some of that space has never been occupied even though the building was completed in 1988, landlord Charles S. Cohen said.

Interpublic Group of Cos. shares tumbled 24% Monday after the world's largest advertising firm delayed the release of its second-quarter financial results, raising investor concern about accounting issues. The shares slid $4.69 to $14.99, a five-year low, on the New York Stock Exchange. The company pushed back the report--originally due out today--to Aug.

Interpublic Group Will Acquire Western International: Interpublic Group of Cos. said it signed an agreement to acquire Los Angeles-based Western International Media from Dennis Holt for an undisclosed price. Holt is also president of Western. The agreement includes a commitment to Western International that it will continue to operate as an independent company. Western International is a media buying service. It purchases more than $1.

Carnation, one of the West Coast's largest packaged-goods companies, has decided to repackage its advertising. The company said Friday that it will consolidate much of its advertising with several advertising agencies owned by the giant New York holding company, Interpublic Group. In Los Angeles, an account valued at $12 million to $15 million will go from Ogilvy & Mather to McCann-Erickson/Los Angeles.

* Coca-Cola Co. said it will team up with Interpublic Group of Cos. Inc. to develop, refine and focus the "brand essence" for its Coca-Cola brand, which represents about 60% of its overall volume. Terms of the alliance, which the companies expect to initiate in early 2001, were not disclosed.

Fast-food giant Burger King said it dropped Lowe Lintas & Partners, a unit of the world's No. 3 advertising group Interpublic Group of Cos., as its ad agency during a review of the chain's $400-million advertising account. Michael Draznin, a Lowe Lintas spokesman, said its capitalized billings for the account were about $90 million. The Lowe account was primarily for creative work. Burger King spokeswoman Kim Miller said the bulk of the ad budget goes to media buying for broadcast spots.

Interpublic Group, the third-largest advertising agency, and True North Communications Inc., a rival it's buying, expect second-quarter profit to miss forecasts because of slower advertising sales growth. Interpublic said it now expects profit of 30 cents to 35 cents a share, compared with its previous estimate of 40 cents to 45 cents. Analysts on average were expecting 42 cents, according to First Call/Thomson Financial.

Interpublic Group, the third-largest advertising agency, and True North Communications Inc., a rival it's buying, expect second-quarter profit to miss forecasts because of slower advertising sales growth. Interpublic said it now expects profit of 30 cents to 35 cents a share, compared with its previous estimate of 40 cents to 45 cents. Analysts on average were expecting 42 cents, according to First Call/Thomson Financial.

In a deal that would create the world's largest advertising company, Interpublic Group of Cos. is buying True North Communications Inc. for about $2 billion in stock. The deal announced Monday enables New York-based Interpublic to add global agency network FCB Worldwide, one of the world's oldest advertising concerns, to its two existing global networks, McCann-Erickson WorldGroup and Lowe Group.

Bragman Nyman Cafarelli Public Relations & Marketing of Beverly Hills is being acquired by Weber Shandwick Worldwide, a major public relations firm that is part of the advertising and communications conglomerate Interpublic Group of Cos. Bragman Nyman Cafarelli was projecting revenue of $8.5 million in 2000. Terms of the acquisition weren't disclosed.

* Coca-Cola Co. said it will team up with Interpublic Group of Cos. Inc. to develop, refine and focus the "brand essence" for its Coca-Cola brand, which represents about 60% of its overall volume. Terms of the alliance, which the companies expect to initiate in early 2001, were not disclosed.

Interpublic Group of Cos., the world's No. 3 advertising group, said it acquired U.S. advertising and marketing agency Deutsch Inc., which created Bad Andy, the mischievous "spokespuppet" for Domino's Pizza. Interpublic declined to say how much the deal was worth, but Chief Executive Philip Geier said it was less than reports of between $250 million and $300 million.

Fast-food giant Burger King said it dropped Lowe Lintas & Partners, a unit of the world's No. 3 advertising group Interpublic Group of Cos., as its ad agency during a review of the chain's $400-million advertising account. Michael Draznin, a Lowe Lintas spokesman, said its capitalized billings for the account were about $90 million. The Lowe account was primarily for creative work. Burger King spokeswoman Kim Miller said the bulk of the ad budget goes to media buying for broadcast spots.

General Motors Corp. said it is changing its advertising agency of record for corporate activities for the first time in 28 years, moving the work to McCann-Erickson Detroit from N.W. Ayer & Partners. McCann-Erickson Detroit, part of the InterPublic Group of Companies, is the ad agency for GM's Buick division. The company has also handled cross-divisional and corporate brand work. GM said it made the move to consolidate some advertising functions for strategic and tactical reasons.

In an effort to cut costs and streamline its operations, Los Angeles media buying firm Western Initiative Media Worldwide laid off 25 employees. They include Emil Iannaccone, marketing director; David Bryman, accounts senior vice president; and Terry DeVoto, managing director of the firm's San Francisco office. The bulk of the pink slips went to computer workers hired to ready the 3,300-employee company for the year 2000, President and Chief Executive Michael Kassan said.