NEWS16 September 2010
AUSTRALIA— Advertising and communications group Clemenger is set to become majority-owned by Omnicom’s BBDO network in a deal worth a reported $150m.
BBDO’s stake in the company will rise from the current 47% to 74% under the terms of the agreement. It has been a minority shareholder in Clemenger, which is led by chairman Robert Morgan (pictured), for 37 years.
Clemenger’s companies are predominantly ad agencies but it also owns half of media buying group OMD and a minority share in research firm Open Mind, which recently merged with Omnicom-owned research group Hall & Partners.
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