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Jwt Group Inc

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NEWS
June 26, 1987 | From Reuters
In a change of heart, JWT Group Inc., parent of J. Walter Thompson, the fourth largest U.S. advertising agency, today agreed to a sweetened $566-million takeover by Britain's WPP Group PLC after having spurned its early advances. Under the agreement, marketing services company WPP will pay JWT stockholders $55.50 for each share in the Madison Avenue firm, an increase of more than $10 a share over the London firm's first offer made earlier this month.
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BUSINESS
May 26, 1999 | Greg Hernandez
Coco's restaurants has hired a San Francisco-based advertising agency to help the 50-year-old Irvine chain update its image and reverse a three-year trend of flat or declining sales. JWT West, which has handled campaigns for such chains as Burger King and Denny's, is expected to roll out its first campaign for Coco's by early fall, said Larry Tolpin, the agency's chief executive.
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BUSINESS
June 22, 1987
WPP Group extended a $50.50 a share bid for the parent of J. Walter Thompson advertising agency until June 22 while negotiations continue. Separately, JWT disclosed that a shareholder has filed a class-action suit against it in Delaware Chancery Court. The suit alleges that several JWT directors did not act in the shareholders' interests when they stated that JWT, its ad agency and its Hill & Knowlton unit were not for sale.
BUSINESS
July 7, 1987 | BRUCE HOROVITZ, Times Staff Writer
The client drain continued at troubled JWT Group as Chevron U.S.A. said Monday that it will pull its estimated $10-million Chevron brand gasoline account from the J. Walter Thompson advertising agency. Chevron is the second major client to remove at least some of its advertising from the agency since the British marketing firm WPP Group agreed to purchase JWT two weeks ago. Last week, Ford Motor yanked much of its overseas advertising--valued at up to $140 million--away from Thompson.
BUSINESS
June 24, 1987
London-based Trilateral Communications said it is weighing a bid for JWT, the parent of the J. Walter Thompson advertising agency and the Hill & Knowlton public relations firm. Trilateral said three high-ranking JWT executives approached it about buying the New York-based firm. Meanwhile, JWT told WPP Group, another British suitor, that it would provide it with confidential information under certain conditions. WPP has offered $50.50 a share for the firm.
BUSINESS
July 3, 1987
The auto maker said it will reassign advertising for nine of its European affiliates to Ogilvy Group Inc. and for Ford's Canadian division advertising to Young & Rubicam Inc. This marks the first client defection since London-based WPP Group PLC agreed to acquire JWT Group last week. The 10 Ford accounts are believed to represent nearly one-third of Ford's estimated $350-million account with the J. Walter Thompson advertising agency, a division of JWT.
BUSINESS
June 23, 1987 | DENISE GELLENE, Times Staff Writer
A firm half owned by Los Angeles entertainment giant MCA said Monday that it has purchased nearly 5% of the embattled parent of the J. Walter Thompson advertising agency. Quantum Media, a New York media and advertising firm, owns 4.7% of the JWT Group. Robert Pittman, Quantum Media's chief executive, wouldn't discuss the firm's JWT holdings. Quantum Media was formed by MCA and Pittman last fall to make media- and entertainment-related acquisitions and ventures.
BUSINESS
June 16, 1987 | DENISE GELLENE, Times Staff Writer
The British marketing services firm that launched a hostile bid for the parent of J. Walter Thompson advertising agency said Monday that it would raise its bid by more than $50 million if a merger agreement with JWT Group is reached by Wednesday. The London-based WPP Group said it was prepared to raise its $45-a-share bid to $50.50 a share to "bring about an immediate acceptance of our proposal and to put this extended period of instability behind JWT as quickly as possible."
BUSINESS
May 26, 1999 | Greg Hernandez
Coco's restaurants has hired a San Francisco-based advertising agency to help the 50-year-old Irvine chain update its image and reverse a three-year trend of flat or declining sales. JWT West, which has handled campaigns for such chains as Burger King and Denny's, is expected to roll out its first campaign for Coco's by early fall, said Larry Tolpin, the agency's chief executive.
BUSINESS
June 18, 1987 | DENISE GELLENE, Times Staff Writer
The parent of the troubled J. Walter Thompson advertising agency Wednesday rejected a $45-a-share bid from a British marketing services firm, but agreed to enter discussions with WPP Group, beginning today. Until now, JWT Group has resisted WPP's overtures. Industry analysts expected today's talks to lead to a merger between London-based WPP and JWT, also the parent of the Hill & Knowlton public relations firm. "JWT will go to WPP," predicted James D.
BUSINESS
July 3, 1987
The auto maker said it will reassign advertising for nine of its European affiliates to Ogilvy Group Inc. and for Ford's Canadian division advertising to Young & Rubicam Inc. This marks the first client defection since London-based WPP Group PLC agreed to acquire JWT Group last week. The 10 Ford accounts are believed to represent nearly one-third of Ford's estimated $350-million account with the J. Walter Thompson advertising agency, a division of JWT.
BUSINESS
June 27, 1987 | JESUS SANCHEZ, Times Staff Writer
JWT Group, parent of the nation's fourth-largest and perhaps best-known advertising agency, agreed Friday to a sweetened $566-million takeover offer by a British marketing firm after an internally turbulent six months plus weeks of takeover efforts.
NEWS
June 26, 1987 | From Reuters
In a change of heart, JWT Group Inc., parent of J. Walter Thompson, the fourth largest U.S. advertising agency, today agreed to a sweetened $566-million takeover by Britain's WPP Group PLC after having spurned its early advances. Under the agreement, marketing services company WPP will pay JWT stockholders $55.50 for each share in the Madison Avenue firm, an increase of more than $10 a share over the London firm's first offer made earlier this month.
BUSINESS
June 25, 1987 | DENISE GELLENE, Times Staff Writer
The parent of the embattled J. Walter Thompson advertising agency said Wednesday that its directors will meet either today or Friday to consider "one or more" takeover proposals. The announcement by JWT Group came after one unhappy suitor, London-based WPP Group, made good on its threat to launch a campaign to replace JWT's 11 directors with six WPP nominees, reducing the size of the board. WPP told the Securities and Exchange Commission that it was making the move "since the company's board . .
BUSINESS
June 24, 1987
London-based Trilateral Communications said it is weighing a bid for JWT, the parent of the J. Walter Thompson advertising agency and the Hill & Knowlton public relations firm. Trilateral said three high-ranking JWT executives approached it about buying the New York-based firm. Meanwhile, JWT told WPP Group, another British suitor, that it would provide it with confidential information under certain conditions. WPP has offered $50.50 a share for the firm.
BUSINESS
June 23, 1987 | DENISE GELLENE, Times Staff Writer
A firm half owned by Los Angeles entertainment giant MCA said Monday that it has purchased nearly 5% of the embattled parent of the J. Walter Thompson advertising agency. Quantum Media, a New York media and advertising firm, owns 4.7% of the JWT Group. Robert Pittman, Quantum Media's chief executive, wouldn't discuss the firm's JWT holdings. Quantum Media was formed by MCA and Pittman last fall to make media- and entertainment-related acquisitions and ventures.
BUSINESS
July 7, 1987 | BRUCE HOROVITZ, Times Staff Writer
The client drain continued at troubled JWT Group as Chevron U.S.A. said Monday that it will pull its estimated $10-million Chevron brand gasoline account from the J. Walter Thompson advertising agency. Chevron is the second major client to remove at least some of its advertising from the agency since the British marketing firm WPP Group agreed to purchase JWT two weeks ago. Last week, Ford Motor yanked much of its overseas advertising--valued at up to $140 million--away from Thompson.
BUSINESS
June 12, 1987 | DENISE GELLENE, Times Staff Writer
One of J. Walter Thompson's important advertising clients said Thursday that it would take its business elsewhere if the firm is acquired by WPP Group, a fast-growing British marketing services firm. James DeVoe, advertising vice president for Goodyear Tire & Rubber, said the Akron, Ohio-based company "simply would not feel comfortable working with a firm controlled by interests outside this country."
BUSINESS
June 22, 1987
WPP Group extended a $50.50 a share bid for the parent of J. Walter Thompson advertising agency until June 22 while negotiations continue. Separately, JWT disclosed that a shareholder has filed a class-action suit against it in Delaware Chancery Court. The suit alleges that several JWT directors did not act in the shareholders' interests when they stated that JWT, its ad agency and its Hill & Knowlton unit were not for sale.
BUSINESS
June 18, 1987 | DENISE GELLENE, Times Staff Writer
The parent of the troubled J. Walter Thompson advertising agency Wednesday rejected a $45-a-share bid from a British marketing services firm, but agreed to enter discussions with WPP Group, beginning today. Until now, JWT Group has resisted WPP's overtures. Industry analysts expected today's talks to lead to a merger between London-based WPP and JWT, also the parent of the Hill & Knowlton public relations firm. "JWT will go to WPP," predicted James D.
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