Droga5 denies report that it is seeking William Morris Endevour exit
Droga5 has denied it is unhappy and is looking for suitors to buy out its deal with holding company Willaim Morris Endeavour (WME), according to The New York Post.
Droga5 looks for suitors for a buy out citing it is 'unhappy' with WME / Droga5
The report claimed that the agency sought to exit the deal it signed in 2013, and also speculated that Droga5 was considering Accenture as a potential investor as an internal source told NY Post that "it's not working out."
The $115m deal was the agency sell 49% of its ownership to WME [now Endeavour].
However, a spokesperson for Droga5 told The Drum that there was no plan to leave Endeavor and that it was ‘happy’ with it current circumstances.
In 2013, talent agency William Morris Endeavor made an estimated $225m deal with Droga5, giving it a 49% stake in the New York ad agency.
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Droga5
Droga5 is a New York City-based global advertising agency with an additional office in London. The agency works across all platforms including, broadcast, print,...
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