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Article: New York Conglomerate Buys Control of Wenham, Mass.-Based Ad Agency.
- Article from:
- Knight Ridder/Tribune Business News
- Article date:
- April 29, 1999
- Author:
CopyrightCOPYRIGHT 1999 Knight-Ridder/Tribune Business News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Knight Ridder/Tribune Business News
Apr. 29 -- Mullen, the third largest ad agency in New England and the region's largest independent agency, has sold a majority stake of its business to a unit of the Interpublic Group of Cos., the New York conglomerate that last year bought Boston ad agency Hill Holliday Connors Cosmopulos.
In the rapidly consolidating ad industry, Wenham-based Mullen is the third big local ad agency to be purchased by an outside-the-region communications company in the last 18 months.
Under the deal announced yesterday, Mullen will keep its autonomy; founder Jim Mullen will remain chief executive for the next few years and ...