True North and Tempus open talks

By KAREN YATES, campaignlive.co.uk, Friday, 29 May 1998 12:00AM

Tempus, the holding company for CIA Medianetwork, is in advanced talks with True North about developing a global media partnership that would give True North its own international media network.

Tempus, the holding company for CIA Medianetwork, is in advanced

talks with True North about developing a global media partnership that

would give True North its own international media network.



Top-level talks are understood to have taken place in New York last week

between the two companies, which already have joint media ventures in

the UK and France through BJK&E, the media arm of True North’s agency,

Bozell Worldwide.



However, Tempus is said to be frustrated by the pace at which True North

is moving on the deal.



A deal would give Tempus access to the dollars 2.5 billion True North

media operation in the US, TN Media, while allowing it to retain control

of its operations. It would also provide True North with a much-needed

European media powerbase to replace the Optimedia network which FCB

shared with Publicis before the two partners went their separate

ways.



Chris Ingram, the chairman of Tempus, admitted: ’We’re looking at

whether there are opportunities to extend our relationship in other

territories’, and agreed that a deal with True North could allow Tempus

access to the US without surrendering control.



Mike Drexler, the chairman of TN Media, said: ’We are talking to Tempus

about an equity arrangement and developing our media partnership. We’ve

worked with them and we like them but we’re no further advanced with

them than with other agencies.’ True North is also reported to be

talking to Zenith Media.



Meanwhile, Tempus is understood still to be in talks with Young &

Rubicam about a possible tie-up, despite negotiations foundering last

autumn (Campaign, 17 October 1997). However, Ingram would not comment on

reports that Tempus is also talking to Dentsu in the Far East. Rumours

of talks with Lowe Howard-Spink have been dismissed.



This article was first published on campaignlive.co.uk

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