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,
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
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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