Interpublic Acquires Media First International
Specialized Media Agency Known for Strong Reputation and Client Relationships
New York, (June 4, 2002) – The Interpublic Group of Companies, Inc. (NYSE:IPG) announced today that it has acquired Media First International, Incorporated, a New York based full-service media company. Terms of the deal were not disclosed.
In 2001, Media First managed in excess of $330 million of media expenditures for its clients across a range of industries, including leading companies such as Burger King and Northwest Airlines. The agency is headquartered in New York and has an office in Minneapolis. Media First International will operate as an independent, stand-alone business unit within Interpublic's The Partnership division and report to Interpublic Vice Chairman, David Bell. The agency will continue to be headed by its founder, President and CEO Richard Kostyra, 61, a respected veteran of the media business.
“We are pleased to be adding a specialized media company such as Richard's to our roster,” said Mr. Bell. “A number of Interpublic agencies share important clients with Media First and have partnered successfully with them in providing integrated programs to those clients.”
Mr. Kostyra added, “We are very pleased to be joining the Interpublic Group. This move will allow us to continue to offer our clients small agency involvement and the unrivalled resources that come from being part of one of the largest companies in our industry. Our clients will benefit from access to Magna Global and to broader media research, while Media First will benefit from Interpublic's expertise in ‘shared services' areas such as real estate and human resources management, as well as information technology support.”
The Interpublic Group of Companies is among the world's largest advertising agencies and marketing organizations. Its four global operating groups are the McCann-Erickson World Group, The Partnership, FCB Group and Advanced Marketing Services. Major brands include Draft Worldwide, Foote Cone & Belding Worldwide, Golin/Harris International, Initiative Media, Lowe & Partners Worldwide, McCann-Erickson, Octagon, Universal McCann and Weber Shandwick.
CONTACT:
Philippe Krakowsky
(212) 399-8088