Talent agency William Morris Endeavor has made an estimated $225m deal with Droga5, giving it a 49 per cent stake in the New York ad agency.
The deal will be completed early next week.
“Droga5 has always endeavored to be the most influential creative agency in the business, with ideas that move our clients and our industry forward,” said David Droga, founder and creative chairman, Droga5. “This partnership will exponentially accelerate our ability to realise that ambition.”
It is hoped the partnership will allow the two agencies to create more branded content by bringing together their advertising and entertainment resources, giving clients an A-Z solution from one, combined, agency rather than having to work with multiple shops.
Droga5’s current clients include Coca-Cola, Motorola, and Spotify while William Morris has Lady Gaga, Alicia Keys, and Oprah Winfrey amongst others on its book.
The management of Droga5’s agency operations will not change.