A source close to Bozell Worldwide said the privately held agency is renewing talks with True North Communications, heating up an 18-month-old rumor that the Chicago parent of Foote, Cone & Belding will acquire Bozell to create a second agency network. FCB's shaky stance on the Mazda account may be driving renewed interest in Bozell, which handles roughly $500 million worth of Chrysler
business. A True North spokesman said no deal is imminent, noting that True North Chief Financial Officer Terry Ashwill was out of the country this week. A Bozell spokesman also denied talks, adding that CEO Chuck Peebler was likewise out of the country this week.
Copyright August 1995, Crain Communications Inc.