Snyder sells company to Havas Advertising

Article Abstract:

Dan Snyder is selling his advertising agency, Bethesda, MD-based Snyder Communications Inc, to Paris, France-based Havas Advertising. The all- stock transaction worth $2.1 billion will create the fourth largest advertising in the world, with an annual revenue of $19 billion and a market capitalization of over $6 billion. The deal has been approved by the boards of both companies and is expected to close by mid 2000.

France, Advertising, Advertising and Related Services, Advertising services, Havas S.A., Snyder Communications Inc.

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British WPP closes in on Y&R deal

Article Abstract:

The WPP Group of the UK is set to acquire US advertising firm Young & Rubicam in a deal that would result in the world's largest advertising and marketing company. Industry sources estimated the price of the all-stock deal to be between $5 billion to $5.5 billion. The merged firm would have revenues of $7 billion from billings in excess of $54 billion, a level that would enable WPP to overtake Omnicom and Interpublic, its biggest US competitors.

United Kingdom, Advertising Agencies, Young & Rubicam Inc., WPP Group PLC

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News Corp. buys Chris-Craft for $5.3B cash, stock

Article Abstract:

News Corp has acquired Chris-Craft Industries Inc in a $5.3 billion cash- and-stock deal, making News Corp the largest TV station network in the US. News Corp will take ownership of another 10 stations, some located in New York and Los Angeles. The deal will enable News Corp to manipulate the balance of power in the TV network business. Fox Broadcasting will receive 13 stations in the top ten markets, two stations each in New York, Los Angeles, Salt Lake City and Phoenix and will gain a stronger bargaining position with regional cable sports networks.

Television Broadcasting, Chris-Craft Industries Inc.

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