Leo Group, MacManus Reportedly to Form Union
From Reuters
Two of the nation’s largest privately held advertising companies, Leo Group of Chicago, owner of the Leo Burnett agency, and New York-based MacManus Group are expected to announce an alliance and possible merger, Advertising Age said Tuesday on its Web site.
The report said the alliance would be announced today.
Such a combination would create what Ad Age said would be the world’s fourth-largest advertising organization, behind Britain’s WPP Group and just ahead of Japan’s Dentsu. Their combined 1998 gross income totaled $1.8 billion.
MacManus officials could not be reached late Tuesday, and a Burnett spokeswoman said she couldn’t comment.
The two holding companies share clients such as Procter & Gamble Co. and General Motors Corp.
