Havas officially put an end to Magnet Communications with today’s “blockbuster” news that "Euro RSCG Magnet, the U.S. public relations arm of Euro RSCG Worldwide and the PR arm of Euro RSCG Life, a leading, global health communications agency have aligned their public relations assets to create a single PR offering that will enhance the capabilities of both operations.”
How is that for clarity? The convoluted press release is fitting for Magnet, which failed to develop its own “brand” or identity during its seven-year life.
Magnet has been around (and bounced around) since June 22, 2000. It sprung to life via the merger of venerable PR firm Creamer Dickson Basford and ACG Communications, an interactive and events shop. Kratz & Jensen and Capstone were tossed into the mix to create a PR powerhouse with 224 staffers in Chicago, Pittsburgh, New York and five California cities. Billings were more than $30M, coming from stalwarts such as IBM and H.J. Heinz. Darryl Salerno was the kick-off CEO. What happened?
Magnet merged with Euro RSCG Middleberg on April Fool’s Day, 2004 to become Euro RSCG Magnet. Don Middleberg, in one of PR's shrewdest deals, sold his dot-com shop to Euro RSCG in June, 2000. He says Middleberg Communications was a $20M operation then, staffed by 150. Middleberg was gone by Magnet merger time, and so were many others. Euro RSCG Magnet's staff totaled 150 when it added Middleberg's people.
PR veteran John Margaritis came to the rescue on Nov. 30, 2005 when he was named executive VP of Euro RSCG Worldwide PR. His primary focus was to figure out what to do with Euro RSCG Magnet.
That decision has now been made. Magnet is gone. Euro RSCG Magnet is now going under the name Euro RSCG Worldwide PR North America with Euro RSCG Life PR as a “sub-brand.”
Euro RSCG Life PR? That is a story for another day.