Magnet Interactive shutters LA office

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Washington, D.C.-based Magnet Interactive decided to close its Los Angeles office, according to a copy of the notification sent to employees that was obtained by Advertising Age. The notice said Magnet plans to permanently lay off employees in that market on April 23 "due to economic conditions." The Los Angeles office of Magnet is believed to have worked with Nissan, among other clients. Magnet officials couldn't be reached for comment. Magnet was acquired late last month by Citron Haligman Bedecarre as part of a complicated deal that also included partnerships with London digital shop AKQA, Asia-Pacific digital company The AdInc. and Accenture.

Copyright February 2001, Crain Communications Inc.

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