Dentsu To Buy McGarry Bowen
ADOTAS – Japanese ad player Dentsu announced that it’s planning to snap up indie ad boutique McGarry Bowen. McGarry Bowen’s clients include J.P. Morgan Chase and Hewlett-Packard. The ad firm had roughly $57 million in revenue last year, according to The Wall Street Journal.
The buy is coming at an odd time, with a significant downturn in the U.S. ad market being forecast for next year (predictions have been as dire as 40% cuts). Still, Dentsu aims to rake in 30% of its revenue in North America by 2010, the Journal reports.
Dentsu recently named Tim Andree CEO of Dentsu America, a newly created position.
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