Cordiant units mull buybacks

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Cordiant's Rowland Group and Kobs & Draft may be considering management buyback deals. International public relations network Rowland Group billed $35 million in 1994; Kobs & Draft had 1994 gross income of $64 million. London agency KHBB confirmed its own management buyback talks with Cordiant are proceeding. Separately at Cordiant-owned Saatchi & Saatchi Advertising, 16 staffers were let go last week in a cost-cutting measure after the loss of several accounts to M&C Saatchi Agency.

of Cahners
Ian Irvine, co-chairman of Reed Elsevier, moved to squelch rumors sparked by his May 18 meeting in London with Boston Ventures, an investment company that in the past has owned several trade publishing companies. In a memo distributed to all Cahners employees May 31, he said: "In the last few weeks there have been rumors based on some speculation by Advertising Age and its sister publication Business Marketing that Reed Elesevier may be considering spinning off Cahners Publishing ... I want to tell you simple and straightforwardly that this speculation is not correct. Cahners is not being shopped around."

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