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Volume 25 No. 29
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          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).