OMNICOM BUYS BACK OWNERSHIP OF ORGANIC

Holding Company Expected to Acquire Agency.com

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NEW YORK (AdAge.com) -- Omnicom Group bought back full ownership of Organic and is expected to acquire Agency.com during the first quarter, said executives within the interactive agencies.
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Omnicom and Organic did not return calls for comment. An Agency.com spokeswoman said it is 100% owned by Seneca Investments and declined to comment further.

Agency.com and Organic were among the shops involved in a 2001 deal in which Omnicom traded its investments in 16 online agencies for a stake in Seneca Investments, a new investment fund.

Seneca Investments later bought full ownership of Organic and Agency.com and restructured them in an attempt to make them profitable.

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