Canadian Magazine Industry News
20 November 2008,     TORONTO
Will Redwood parent group go into competition with Transcon?

Another piece of the puzzle has been added with regards to Transcontinental Inc.'s purchase of Redwood Custom Communications. D. B. Scott at the Canadian Magazines blog points to a story in the London, England-based BrandWeek, which reveals that Omnicom Group, a London-based company that owns the Redwood brand, may launch a competing North American operation once Transcontinental's license to use the Redwood name ends.

The offer from Transcontinental means that Redwood will now be free to licence its name in a new North American venture, likely to be in the US, where it will share resources with sister agency network BBDO.

Redwood UK chairman Christopher Ward said: "Our joint venture with the two co-founders, Eric Schneider and Mitch Wine, has been a successful and profitable one, but Redwood now needs more flexibility in the way we service global clients."

The story also states that Transcontinental had previously owned a 50% stake in Redwood North America, which launched here in 1999, and that it purchased the remaining assets in the deal announced this week.

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