Bcom3 Group is establishing a holding company dedicated to multicultural advertising, to be titled Pangea.
The move coincides with Bcom3’s purchase of the largest Asian-American network, New York-headquartered New A. Founded in February this year by Asian-American ad agency Admerasia, New A includes interactive services firm Cyverasia, translations company ALanguage Bank, marketing solutions provider 618 Inc and AAAZa, Admerasia’s Los Angeles office.
Admerasia posted 2000 billings of $91.3 million, the ninth largest multicultural agency in the US. However, it has suffered in this year’s ad slowdown, with large cuts in adspend by two of its biggest clients, E-Trade and WorldCom.
In addition to New A, Pangea will house African-American agency Vigilante in New York, plus Hispanic shops Lapiz in Chicago and Bromley Communications in San Antonio, Texas.
The new Bcom3 unit’s unusual name refers to the single landmass existing before the ice age, which subsequently split into the modern-day continents.
News source: AdAge.com