FCB buys another agency in Venezeuela

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CHICAGO -- Foote, Cone & Belding (FCB), the largest ad agency subsididary of True North Communications, has acquired majority- equity ownership in AJL Publicidad, a full- service ad agency in Caracas, Venezuela. The agency ranks among the country's 15 largest agencies and its clients include several international organizations. It was founded 1981 by Javier Manrique, Antonio Lutz DiAscolli and Luis Garcia Planchat.

Currently, FCB owns two agencies in Venezuela: FCB Venezuela and Publicis. AJL will merge with the Publicis office under the new name AJL Park. The current AJL management will remain with Manrique serving as president and DiAscolli taking on the position of general manager.

FCB is the fifth largest ad agency in the U.S. and the world's 11th largest network.

Copyright June 1997, Crain Communications Inc.

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