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

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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 at Bonehook in Portland, Oregon.