M&C Saatchi is to pull out of Auckland, and the agency’s head office in London is in negotiation to sell the business to its Auckland joint CEOs Dave King & Tony Burt.
In the meantime, the agency will continue to operate as M&C Saatchi until the sale to King & Burt is concluded – if successful, the new owners will rename the business.
Nobody at the Auckland office was talking when M+AD called; King & Burt were, the receptionist said, “on holiday”.
But Sydney-based M&C Saatchi media comms executive Matt Porter confirmed the move when we called this morning.
Burt and King each currently hold 120 shares in the company (6.7%), while M&C Saatchi International Holdings London holds the remaining 1560 shares (86.7%).
Reports out of London say the decision was triggered by the recent financial downturn in NZ.
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