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Omnicom eyes Agency.com buy

By Published on .

Omnicom Group is back in the hunt for an interactive agency, this time holding talks with Agency.com.

"We're talking to a lot of people. Among them is Omnicom, definitely," said Chan Suh, principal at Agency.com, New York, with clients including Metropolitan Life Insurance Co., GTE Corp. and American Express Co.

Mr. Suh said Agency.com is in discussions with a total of four companies, including one major media company.

Omnicom executives didn't return calls at press time, but the holding company has long been on the prowl for a new-media shop and earlier this year talked with Modem Media, Westport Conn.

MODEM, TN STILL TALKING

Modem remains in talks with TN Technologies, but negotiations have been delayed by the reshuffling of executives at the latter shop. Greg Blaine last month succeeded Jack Balousek as chairman-CEO of the TN Technologies unit of True North Communications, Chicago.

"The guy we had been dealing with [Mr. Balousek] has been changed. That quite frankly has slowed down the process," said Jack Kraft, who has been acting as adviser to Modem during the acquisition talks.

Copyright July 1996 Crain Communications Inc.

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