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3i shutters CMF&Z

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Chicago--3i L.L.C., the holding company that has ambitions of becoming the Omnicom of b-to-b, confirmed Monday that is has shuttered CMF&Z, the venerable Iowa-based marketing communications shop that had offices in Cedar Rapids and Des Moines.

Sean Bisceglia, CEO of 3i, said it is in the process of liquidating CMF&Z’s assets and selling some portion of the business back to management. CMF&Z is 3i’s lone acquisition to date.

Bisceglia, former head of TFA/Leo Burnett Technology, said the shutdown of CMF&Z will not stop him from moving ahead with 3i’s plan to build a network of b-to-b advertising agencies.

Former president-CFO Philip de Roziere has left 3i to pursue other opportunities, said Bisceglia, who plans to install a new management team to woo venture capital and to begin acquiring b-to-b shops.

Bisceglia originally intended to own five or six agencies by the end of 2002.

--Sean Callahan

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