True North Communications, Chicago, completed the transaction to acquire Modem Media, Westport, Conn., on Jan. 3. According to papers filed with the Securities and Exchange Commission in late October, the long-awaited merger between the holding company and one of the interactive community's first interactive-specific advertising agencies will create a company worth $75 million. As expected, Greg Blaine serves as chairman-CEO of TN Technologies and Modem Media founder G.M. O'Connell serves as president-COO.
Copyright January 1997, Crain Communications Inc.