Reader's Digest buys stake in BrandDirect
Article Abstract:
Pleasantville, NY-based Reader's Digest Association Inc has agreed to purchase an 18% equity interest in Shelton, CT-based membership-based marketing company BrandDirect for an undisclosed price. The deal would consolidate Reader's Digest's comprehensive database and overseas presence with BrandDirect's experience in telemarketing and membership clubs. BrandDirect has 2.2 million members affiliated in its 10 existing clubs, which include Arthur Frommer Budget Travel Club, Children's Television Workshop Kids Club, among others.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1999
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Leo-MacManus direct units will stay separate
Article Abstract:
Leo Group of Chicago, IL, and MacManus Group announced no significant changes in their direct divisions, following the merger of the two advertising agencies. However, the merged companies, which have over $1.7 billion in annual revenues, still promised to provide substantial funding for their divisions. The consolidation creates the fourth-largest advertising company in the world and is expected to be a strong contender in the highly-competitive advertising marketplace.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1999
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Lighthouse has eyes wide open
Article Abstract:
Non-profit vision-care organization Lighthouse International has acquired wholesale optical products distributor Mattingly International for an undisclosed amount. The merged company will be folded into Lighthouse International's Lighthouse Enterprises unit and will retain the Lighthouse name. It will have combined revenues of $6 million and would make it the leading marketer of specialty vision-care products.
Publication Name: DM News
Subject: Construction and materials industries
ISSN: 0194-3588
Year: 1999
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