Leo Group is the new holding company created by Leo Burnett Co.
Media Estrategia, which Starcom said had 1998 billings of $200 million, is headquartered in Madrid and has offices in Barcelona and Lisbon, Portugal. Clients include Yamaha, Toyota, Hyundai and Paramount as well as eight advertising agencies.
Starcom said it has been aggressively seeking to build its European operations, and that the Media Estrategia acquisition "creates a powerful presence for Starcom in Spain." Prior to buying Media Estrategia, Starcom Spain had been part of the Equimedia buying consortium in Spain. Starcom said it resigned from the consortium to puruse this and other acquisitions.
Jose Luis Sanchez will be president-CEO of Starcom Worldwide Media Estrategia; he had been president and a founder of Media Estrategia. Ana de Martin, Starcom Spain media and IT director, will be international VP of the combined company.
Copyright October 1999, Crain Communications Inc.