M&C Saatchi buys media agency Bohemia
M&C Saatchi has acquired media agency Bohemia in a move aimed at giving the creative agency a foothold in the media space.
The creative agency has harboured ambitions to launch a media arm for several years, spending big money to bolster its strategy team, led by Justin Graham.
It threw its hat into the ring for the Commonwealth Bank media account in 2014 when that came up for pitch, with the agency already holding the creative element of that account.
headline is odd – did M&C buy it outright or buy a stake. very different things.
what the valuation was at the start of the process a year ago versus what they finally paid?!
Congrats Brett and co,
Oh good, the industry definitely needs fewer independents. Nothing helps a struggling agency quite like a buyout.
Hi Anonymous,
You are correct – we clarified the lead to say acquisition rather than stake.
Cheers,
Miranda – Mumbrella
Guess who’s getting vodafone….
Congrats Brett.
Congrats everyone involved!
Who? Bohemia don’t have it anymore and M&C have Optus…
Congrats Brett and co.
You’re going to smash it. M&C are a class act.
I hope M&C paid on a CPC model… Cost per client ?… I’ll see myself out.
Let’s say it how it is – owners selling out of a sinking ship while they still can.
Do any leaders from any other independent agencies have anything to say? Yes, I’m talking to you.
Sure, they should have sold it a year ago. Now, heavily discounted, still not exactly a bargain.
Furthermore, and this may sound harsh, but their best people left with their best clients.
Selling out is nearly always the endgame (with a few notable exceptions (e.g. W+K). Why is this a bad thing. The founders make money, and the employees if ambitious enough get to watch and feel what its like to create an agency from scratch.
So few people successfully do it in this market – especially in the media space: Naked, Match, Atomic 212, Ikon (I think) and Bohemia are the only ones of any note who’ve made a go of it over the years (after Harold of course). Congratulations to all of those involved in starting, selling, and working at any of these.