Interpublic’s ingestion of True North Communications continues apace with the absorption of the latter’s media planning/buying offshoot TN Media into Initiative Media Worldwide – itself recently incorporated into The Partnership, a new global division of the marketing services conglomerate [WAMN: 11-Jul-01].
Casualties of the rationalization are eighty-nine staffers at TN Media North America, now jobless, as are eighty more at Initiative Media North America. A further 151 TNM employees will transfer to Initiative’s payroll.
Separately, Interpublic’s recently created media negotiation behemoth Magna Global [WAMN: 27-Jul-01] has appointed two senior TNM executives to key positions.
Larry Blasius (45), senior vp and director for US broadcast media at TN moves into the mirror role at Magna. Steven Sternberg (45) likewise shifts position from senior vp and director for broadcast research at TN to ditto audience analysis. Both men answer to Magna Global USA chairman Bill Cella.
News source: New York Times