Deal to create the largest interactive ad agency
Article Abstract:
Agency.com is expected to acquire Eagle River Interactive today, forming the largest Internet advertising agency with 575 employees in 10 offices and approximately $80 million in 1998 revenues. The deal would not only would mark the latest consolidation among dozens of start-up agencies but would also would raise the influence of Omnicom Group. The giant advertising agency holding company would raise its stake in New York-based Agency.com from 40% to slightly less than 50%, according to Agency.com CEO Chan Suh. Omnicom already owns 100% of Chicago-based Eagle River Interactive as well as recent Agency.com acquisition targets Ketcham Interactive and Interactive Solutions. Technology companies such as Omnicom have been expanding into the interactive agency field, which provides a significant amount of detailed computer programming. Among their services are establishing World Wide Web company sites and placing banner advertisements on other Web sites.
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
S.E.C. crackdown on technology write-offs
Article Abstract:
The Securities and Exchange Commission (SEC) has ordered America Online (AOL) and the rest of the entire technology industry to improve their accounting of mergers and acquisitions. Technology firms have taken advantage of a minor note in accounting regulations to write off most of the acquisition price of firms when they acquire them. This practice prevents an ongoing drag on profitability that would come about from the writing off of the purchase price over a period of several years.
Comment:
SEC orders America Online (AOL) and the rest of the entire tech ind to improve their accounting of mergers and acquisitions
Publication Name: The New York Times
Subject: Business, general
ISSN: 0362-4331
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: Seller-buyer interactions during the commercialization of technological process innovations. Implementation of industrial process innovations: factors, effects, and marketing implications
- Abstracts: Prestige cars: the canary in the coal mine. Coming soon to a showroom near you. High times for luxury buyers
- Abstracts: Coal/alternate energy industry. Alternate energy industry
- Abstracts: Finance stocks lift their market profile. ANZ trips up on prestige funds venture. Property and debt markets grow closer as bank finance dwindles
- Abstracts: Note: the role of returns policies in pricing and inventory decisions for catalogue goods. Price promotions and trade deals with multiproduct retailers