Grey Is The New Gold

On Sept. 13, WPP announced it would buy Grey for $1,005 a share or $1.52 billion. According to AdAge, Grey Global Group will now pay its chairman-CEO, Ed Meyer, as much as $87 million cash when WPP Group buys Grey. And Mr. Meyer gets to keep his job. The cash payments don’t include Mr. Meyer’s Grey stock and stock options, worth about $351 million based on this morning’s valuation.
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That’s $438 million for the pinstriped guy in the corner suite. I’ve always held that advertising is a great place to learn the art of the deal

About David Burn

I wrote my first ad for a political candidate when I was 17 years old. She won her race and I felt the seductive power of advertising for the first time. Today—after working for seven agencies in five states—I am head of brand strategy and creative direction at Bonehook in Portland, Oregon.