Interpublic to Acquire Stake in Endeavor Marketing and Enter Consulting Agreement with Mark Dowley
NEW YORK--(BUSINESS WIRE)--Jan. 17, 2005--The Interpublic Group (NYSE:IPG) announced today that it had agreed to acquire a minority interest in Endeavor Marketing and enter into an exclusive consulting agreement with company principal, Mark Dowley.
"Through his company, Mark provides expertise to major marketers in a number of areas, including event and sports marketing, entertainment marketing strategy development and execution, promotions and the creation of branded content," said Interpublic Chairman Michael Roth. "He's a dynamic individual in a dynamic area of our business. We wanted to formalize a relationship that would allow us to tap into those capabilities." According to Mr. Dowley, "In considering the next step for myself and my company, I looked at a number of interesting options. In the end, I was most excited about the chance to once again be associated with Interpublic."
Terms of the transaction were not disclosed. Under the terms of the consulting agreement, Mr. Dowley will consult to a number of Interpublic marketing services companies and work closely with FCB in particular. The agreement precludes Mr. Dowley from working with any Interpublic competitor.
Interpublic is one of the world's leading organizations of advertising agencies and marketing-services companies. Major global brands include Draft, Foote Cone & Belding Worldwide, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe & Partners Worldwide, MAGNA Global, McCann Erickson, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Deutsch and Hill Holliday.
CONTACT: The Interpublic Group
Julie Tu, 212-827-3776
Media, Analysts, Investors:
Philippe Krakowsky, 212-704-1328
Jerry Leshne, 212-704-1439
SOURCE: The Interpublic Group