Grey's MediaCom to acquire U.K.'s Media Business Group

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MediaCom Worldwide, New York, Grey Advertising's stand-alone media buying unit, plans to acquire The Media Business Group, London, through its MediaCom Europe operation. TMBG and MediaCom U.K. will merge under the name MediaCom/TMBG, with total billings of $850 million. Allan Rich, now TMBG's CEO, will become chairman-chief executive; Andy Troullides,MediaCom U.K. managing director, and Stephan Allan, TMBG group managing director, will become co-managing directors. Clients of the combined agency will include Procter & Gamble Co., Mars Inc., SmithKline Beecham Corp. and Warner Bros. Movies.

Copyright November 1998, Crain Communications Inc.

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