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OMNICOM GROUP SET TO ACQUIRE THE MARKETING ARM
Published June 21, 1999
Omnicom Group, the "world's largest advertising conglomerate," has reached an agreement in principle to acquire Dallas-based The Marketing Arm, according to Andy Bernstein of the SPORTSBUSINESS JOURNAL. Terms of the deal "have not been disclosed," but sources familiar with The Marketing Arm's financial situation "estimated the sale price at" $10-12M. Bernstein writes that "by funding plans" for The Marketing Arm to acquire 8-12 "small sports marketing agencies," Omnicom "could grow from a bit player in sports to a major power in sponsorship and athlete marketing." The Marketing Arm Owner & CEO Ray Clark: "To accomplish our goals, we see ourselves as a $30 million to $50 million agency inside of three years." The Marketing Arm's "acquisition strategy" will center on the goal of "becoming a dominant player in endorsement transactions, representing both athletes and corporations on either side of the negotiating table." For more on this story, see this week's issue of the SPORTSBUSINESS JOURNAL (6/21 issue).