Burson-Marsteller Acquires Its Korean Joint Venture Partner, Merit Communications.NEW YORK--(BUSINESS WIRE)--Sept. 21, 1999-- Burson-Marsteller Burson-Marsteller is one of the largest public relations agencies in the world. It is unit of Young & Rubicam, which is owned by WPP Group PLC.[1] It was formed by Harold Burson and Bill Marsteler in 1954. today announced that it has completed the acquisition of its Korean joint-venture partner, Merit Communications, Korea's largest public relations public relations, activities and policies used to create public interest in a person, idea, product, institution, or business establishment. By its nature, public relations is devoted to serving particular interests by presenting them to the public in the most firm. Merit, which was founded in 1989 by Britons Bill Rylance and Bryan Matthews, both of whom previously worked for B-M, will now operate under the name Merit/Burson-Marsteller. Financial terms of the deal were not disclosed. Burson-Marsteller has held a 25% stake in Merit since 1996. In addition to the company's work for multinationals doing business in Korea, Merit has worked on major Korean government projects including media relations consulting and the global PR program for Korea's successful bid to host the 2002 World Cup. Last year, Burson-Marsteller and Merit worked with Korea's Ministry of Finance & Economy on a program to highlight the country's commitment to economic reform. The program recently won a Silver Anvil anvil Iron block on which metal is placed for shaping, originally by hand with a hammer. The blacksmith's anvil is usually of wrought iron (sometimes of cast iron), with a smooth working surface of hardened steel. award from the Public Relations Society of America The Public Relations Society of America (PRSA), based in New York City, is the world's largest organization for public relations professionals. The organization has more than 30,000 professional and student members, and is organized into 112 chapters nationwide. . "We are delighted with this acquisition," said Chris Komisarjevsky, chief executive officer, Burson-Marsteller Worldwide. "We now have an unrivalled capability in the Korean market and a significantly enhanced Asia-Pacific presence. Merit is a company that has established a fine reputation in Korea among both multinational and Korean clients. The acquisition demonstrates the commitment and confidence Burson-Marsteller has for the future of the country and the Asia-Pacific region as a whole." As part of the acquisition, Clif Kagawa, chairman and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of B-M Asia-Pacific, announced that Mr. Rylance will take on a new Hong Kong-based regional role with Burson-Marsteller as Managing Director, Asia-Pacific. Mr. Matthews will remain Representative Director of Merit/Burson-Marsteller. "This deal will allow Merit/Burson-Marsteller to further consolidate its market-leading position in Korea and the services we offer to clients," said Mr. Rylance. "It is good news for our existing clients and good news for our employees." "We see this as an important step in further developing our service to Korean clients. As a result of the financial crisis, major Korean companies and organizations have become more aware of the importance of managing their reputations and the need for independent strategic counsel," Mr. Rylance added. "We are committed to providing support for Korean business to ensure there is no turning back from the country's economic recovery." Merit Burson-Marsteller currently has 34 staff and works with clients including Coca-Cola, De Beers, Dell, Schering, Qualcomm, Visa International and the Korean 2002 World Cup Organizing Committee. The firm offers strategic positioning counsel, public relations, marketing communications Marketing communications (or marcom) are messages and related media used to communicate with a market. Those who practice advertising, branding, direct marketing, graphic design, marketing, packaging, promotion, publicity, sponsorship, public relations, sales, sales and corporate reputation counsel. It recently appointed veteran Korean journalist and government advisor Yong-suk Shin shin (shin) the prominent anterior edge of the tibia or the leg. saber shin marked anterior convexity of the tibia, seen in congenital syphilis and in yaws. as Chairman and renowned Korea specialist Mike Breen Mike Breen (born June 26 1965) is a play-by-play commentator for the NBA on ABC. He also works NBA games for ESPN, and was formerly a play-by-play announcers for New York Giants preseason games, as well as for regular season NFL games on both FOX and NBC. as Managing Director. Burson-Marsteller is the leading global perception management/ communications consulting firm Noun 1. consulting firm - a firm of experts providing professional advice to an organization for a fee consulting company business firm, firm, house - the members of a business organization that owns or operates one or more establishments; "he worked for a . A part of the Young & Rubicam Inc. (NYSE NYSE See: New York Stock Exchange : YNR) network since 1979, the firm links, philosophically and electronically, the knowledge and insight of more than 2,000 professionals in 35 countries, operating in multiple functional and industry practice specialities. An advanced technological infrastructure and electronic Knowledge Network link professionals throughout the world. |
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