MAD DOGS & ENGLISHMEN IN SALE TALKS WITH WOLF

New York and Toronto Agencies May Merge

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NEW YORK (AdAge.com) -- New York agency Mad Dogs Englishmen today confirmed it is exploring the possibility of being acquired by Wolf Group Integrated Communications, a Toronto advertising agency with offices in Buffalo, N.Y., Cleveland, Rochester, N.Y., and New York.

Potential sale discussions were first reported in today's Financial Post of Canada.

Robin Hafitz, co-chair of Mad Dogs, told AdAge.com that she and co-chair Nick Cohen have talked to Wolf Group management about a sale. "They are nice folks," said Ms. Hafitz. "We like them."

She declined to provide details of the discussions or the likelihood that a deal will be closed.

$70 million in billings
In 2001, Mad Dogs & Englishmen had capitalized billings of $70 million, said Ms. Hafitz. The agency also operates an office in San Francisco.

In December 2001, Mad Dogs CEO-Managing Director Jeff Soinski departed the firm to join a Utah-based medical equipment maker as president.

Industry observers cite Wolf's managerial talent as one benefit of a possible sale for Mad Dogs. Nick Cohen, who founded the agency, handles creative work, while Ms. Hafitz is responsible for account planning and strategy. A replacement to Mr. Soinski has not been named.

Calls to Wolf Group management were not returned by press time.

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