By ANNA GRIFFITHS, campaignlive.co.uk, Friday, 15 May 1998 12:00AM
Young & Rubicam sold roughly 25 per cent of its shares, raising an estimated dollars 466 million, on the first day of its flotation on the New York Stock Exchange this week. Shares were trading at dollars 28 each, well above Y&R’s estimate of dollars 21 to dollars 24 per share. Y&R plans to use part of the proceeds to repay some of the dollars 331 million loan it took out for a 1996 recapitalisation.
Young & Rubicam sold roughly 25 per cent of its shares, raising an
estimated dollars 466 million, on the first day of its flotation on the
New York Stock Exchange this week. Shares were trading at dollars 28
each, well above Y&R’s estimate of dollars 21 to dollars 24 per share.
Y&R plans to use part of the proceeds to repay some of the dollars 331
million loan it took out for a 1996 recapitalisation.
Editor’s Comment, p55.
Vision Express has awarded its pounds 8 million media planning and
buying account to Saatchi & Saatchi after Universal McCann resigned the
business. It is understood Universal and Vision Express decided to part
company because of a potential clash with the media specialist’s
The Cancer Research Campaign has appointed FCB to handle its
communications account after a four-way pitch against Abbott Mead
Vickers BBDO, Creative Marketing Solutions and Matthew Poppy. FCB will
handle all communications and database activities while Creative
Marketing Solutions will look after fund-raising. Last year, Cancer
Research spent just over pounds 500,000 on advertising, according to AC
Lowe Howard-Spink and the incumbent, CDP, are making final presentations
to the board of Courts this Friday. A final decision is
expected on the pounds 11 million account next week, according to
Courts’ marketing director, Chris Coote.
The BT-owned Talking Pages is understood to have whittled the shortlist
for its pounds 3 million advertising account down to two agencies. Work
from Partners BDDH and Court Burkitt & Company is reported to be in
research, with results expected next week.
Pentax has shortlisted the Square, Court Burkitt & Company, BH McCann,
Publicis and the incumbent, Saatchi & Saatchi, for its pounds 900,000
The brief is thought to include above-the-line, below-the-line and
M&C Saatchi unveiled its plans for Bethlehem 2000 at an event organised
by the EC and attended by Yasser Arafat this week. The theme of the
dollars 400 million initiative to attract visitors to the Holy Land
during the anniversary of Christ’s birth will be: ’Bethlehem, star of
the Millennium.’ International advertising will break later this
The Campbell Soup Company has shortlisted Zenith Media, Young & Rubicam
and Carat to contest its pan-European media account. The agencies will
pitch next month for the business, which is worth pounds 9 million in
the UK, where Zenith is the incumbent.
Spirit, Michael Dobbs’ new agency, has picked up the advertising account
for the computer services group, Omni Solutions - its first win since
launching last month. Omni, the UK’s fastest-growing computer services
group, has not used advertising before. Budgets have not yet been
The Saatchi & Saatchi network is moving into the fast-growing area of
co-marketing with the purchase of GMG Marketing Services in the US.
Rebranded as Saatchi & Saatchi Co-Marketing Services, the unit will
specialise in setting up strategic alliances between manufacturers and
Manning Gottlieb Media has booked a campaign for Nissan Europe to
coincide with the Le Mans racing season, on behalf of Nissan Europe’s ad
agency, TBWA-Neth Work in Amsterdam. Nissan GB’s media planning and
buying is handled by TMD Carat.
The Just Juice Company is preparing to advertise again after a six-year
absence and has appointed Wrightson Dale to spearhead the pounds 1
million television campaign. The fresh fruit juice manufacturer
appointed Wrightson Dale without a pitch on the strength of its work for
RHM Foods’ Nimble and Granary brands. RHM is Just Juice’s parent
A fashion lifestyle magazine called Untold will launch at the end of
next week. The bi-monthly title, aimed at black men, is backed and
distributed by Time Out and aims to have a settledown circulation of
This article was first published on campaignlive.co.uk
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