Advertising agencies Young & Rubicam Inc. and Dentsu Inc. have agreed to change the ownership and management structure of their 50/50 joint venture, Dentsu Young & Rubicam (DY&R).
The new agreement gives Young & Rubicam a majority stake in and operational control of all DY&R companies throughout Asia, excluding Japan. There, Dentsu will gain a majority share of the joint ventures, which include DY&R, direct response shop Dentsu Wunderman Cato Johnson and Dentsu Sudler & Hennessey.
Each partner’s share will remain unchanged in the Lord Group, the partners’ U.S. joint venture, owned 50-50 by Dentsu and Young & Rubicam. The new agreement also does not affect Young & Rubicam’s companies in either Australia or New Zealand, which continue to be majority-owned and operated.
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