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IPG mulls global merger of Draft with FCB network.(Foote, Cone & Belding (Advertising) Ltd.)(Interpublic Group of Companies Inc.)
IPG sources say nothing has yet been decided but expect a decision next month.
Senior figures at Interpublic Group are playing down a possible merger between the holding company's Foote Cone & Belding and Draft networks.
IPG said that a potential merger is still in the preliminary stages.
It added that the company had yet to determine the structure and extent of a merger, and even to decide on whether it would happen at all.
The potential merger would bring together the advertising agency network FCB with the 28-year-old below-the-line operation headed by its founder, Howard Draft.
A senior source has confirmed that several possible scenarios are still on the table. One is the formation of an alliance under a so-called mini-holding company similar to McCann's Worldgroup. However, a full merger is also under consideration.
It is not known whether Draft or Steve Blamer, the global chief executive of FCB, would lead the combined group. However, sources point to Draft as the more likely candidate. The Draft network has 40 offices and 3,000 employees worldwide. FCB, in comparison, has 190 offices and 6,000 employees.
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