Cordiant demerges Saatchi, Bates, Zenith

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Cordiant, the world's sixth-largest advertising organization, unveiled on April 21 a plan to demerge Saatchi & Saatchi Advertising Worldwide, Bates Worldwide and Zenith Media Worldwide into three independently managed businesses.

Saatchi & Saatchi and Bates would each be listed on the New York and London stock exchanges, while Zenith would be equally owned by Saatchi & Saatchi and Bates. The proposal will be submitted for shareholder approval later this year.

For more on this story, see the full article in FEATURES

Copyright April 1997, Crain Communications Inc.

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