eyes Web companies

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Interactive ad shop, New York, is close to acquiring stakes in two Web companies: Spiral Media, New York, and Online Magic, London., part of Omnicom Group's Communicade holding company of interactive agencies, would use the investment in the London shop to expand its European client base. already has a U.K. office to service British Airways. In New York, 2-year-old Spiral Media is a $4 million company with clients including Reuters New Media, AT&T WorldNet and Nickelodeon. Decisions on both investments are expected by monthend.

Copyright June 1997, Crain Communications Inc.

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