WCRS Set for Buyback from Havas

16 March 2004

Venerable British politician Tony Benn quit Parliament in 2001 "to spend more time on politics" after more than fifty years in the House of Commons: "Free at last!" he exulted publicly.

A similar exhalation of relief may escape the lips of venerable British adman Robin Wight by the end of this week. Together with colleagues, he is poised to release WCRS, the agency he co-founded in 1979, from the clutches of French holding company Havas. "To spend more time on advertising," maybe?

A WCRS buyout has been on the cards since last summer [WAMN: 22-Aug-04] and the £20 million ($36.21m; €29.36m) deal is expected to be sealed this week. At present, the high profile London agency is majority-owned by Havas and operates within its Arnold Worldwide network. The French giant may retain a minority stake.

Wight is accompanied in the buyout by co-founder Peter Scott, with whom he will serve as joint chairman. Chief executive Stephen Woodward remains in that role.

Data sourced from: mad.co.uk; additional content by WARC staff