Euro RSCG Worldwide
's acquisition of a majority stake in Citron Haligman Bedecarre, one of San Francisco's largest independent agencies, has been aborted. In February, the two agencies announced they were joining together to enable Citron to establish global resources and Euro RSCG to expand its West Coast presence. Euro RSCG will continue in San Francisco with its direct marketing shop, formerly Cohn & Wells. Citron, which claims billings of $200 million, has become a dot-com centered shop, with clients such as Goodhome.com and Women.com. The agency lost the creative portion of the $100 million CNet account but retains media buying and print. Other clients include troubled West Coast electronics retailer The Good Guys!. "We're going in a different direction,'' said Tom Bedecarre, chairman. A Euro RSCG spokeswoman, who said Citron had experienced a shift in clients after February, said Euro RSCG and Citron were calling off the acquisition because they had "too many differences'' and that Citron felt its future "was best served by being an independent agency.'' Another difference, she said, was approach toward the Internet, explaining, "We think the Internet is a global phenomenon, and they want to treat it locally.''
Copyright December 1999, Crain Communications Inc.