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Article: N.Y. firm buys control of Mullen Wenham ad agency to keep autonomy; no layoffs seen
- Article from:
- The Boston Globe (Boston, MA)
- Article date:
- April 29, 1999
- Author:
CopyrightCopyright 1999 The Boston Globe. Provided by ProQuest LLC. (Hide copyright information)
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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 there will be no layoffs.
Said Mullen: "I want to stabilize the future of this company.
This ...