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The recently announced acquisition of Cabot Communications by Arnold Fortuna Lane ended months of speculation within the Boston advertising industry over what was to become of Cabot--and of Cabot's flagship account, New England Telephone.
For years, rival agencies have lusted after the phone company account, with its billings estimated as high as $35 million per year. Cabot's inability to assemble a management team over the past two years raised hopes for some that the NET-Cabot relationship of four decades--something unheard of in the advertising industry--would come apart, letting them get a shot at the lucrative account.
"There was a smell of blood in the water," said management consultant Walter "Skip" Pile.
But NET rebuffed all suitors, giving the …