Billings weren't disclosed, but before the acquisition the company spent $30 million annually on advertising.
McCann-Erickson, which has handled Cendant's Avis Rent A Car brand since 1999, plans to set up a separate team for Budget. Independent Cliff Freeman & Partners, New York, was the company's last agency of record.
Budget, based in Parsippany, N.J., had regularly changed agencies in recent years. Cliff Freeman won the account in June 1999 from what was then Publicis Groupe's Hal Riney & Partners/Heartland, Chicago. When Riney won the account in the summer of 1998, it was Budget's third agency in three years. Riney succeeded Hill, Holliday, Connors, Cosmopulos, Boston, which got the account in early 1997 from DDB Needham Worldwide, Dallas.