Y&R pays $6.8 million for OneWorld

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Young & Rubicam, New York, paid $6.8 million for the bulk of OneWorld Communications, according to documents filed with the Securities & Exchange commission. OneWorld was formed last year after Leap Group bought YAR Communications for $23.3 million cash and Kang & Lee Advertising for $1.3 million cash plus 40% of the shop's pre-tax profits over the next three years. Leap sold to Kang & Lee and YAR's AT&T Corp. account to Y&R in July.

Copyright November 1998, Crain Communications Inc.

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