Cordiant demerges Saatchi, Bates, Zenith

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Cordiant, the world's sixth-largest advertising organization, unveiled on April 21 a plan to demerge Saatchi & Saatchi Advertising Worldwide, Bates Worldwide and Zenith Media Worldwide into three independently managed businesses.

Saatchi & Saatchi and Bates would each be listed on the New York and London stock exchanges, while Zenith would be equally owned by Saatchi & Saatchi and Bates. The proposal will be submitted for shareholder approval later this year.

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Copyright April 1997, Crain Communications Inc.

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