2-21-2012
Financier Henry Silverman and Clear Channel CEO Bob Pittman have invested several million dollars in ad agency Droga5, which will help the independent agency expand. The Wall Street Journal says Droga5, a privately held New York agency will receive about $6 million to $7 million from the two executives. Silverman is vice chairman of Apollo Global Management, a private equity firm.
Droga says the money from the new investment will be used to expand the agency including by the addition of new talent. A five-year-old firm, Droga5 has about 150 employees and has recently landed ad business for Heineken International BV?s Amstel brand.
Read the Journal story HERE
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