History
In 1923, John Orr Young and Raymond Rubicam established a small advertising agency in New York. It still operates in the original building. During the 1960s, Y&R produced the first color television commercials. In the 1970s, under the leadership of Edward N. Ney as chief executive officer, Y&R expanded with the acquisition of Wunderman Ricotta & Kline in 1973, Cato Johnson in 1976, and Burson-Marsteller in 1979. Throughout the 1980s, Y&R continued to build an integrated marketing offering by buying diverse firms like Landor Associates in corporate and brand identity. By the end of the decade there were nine companies formally owned.
Y&R became the highest-billing advertising agency in the United States in 1975 with billings recorded at US$477 million.
In the 1990s, Y&R was charged with bribery related to a Jamaican tourism account, and a partnership with Dentsu and Eurocom fell apart when Eurocom withdrew. Y&R and Dentsu reformed as Dentsu, Young & Rubicam Partnerships.
Peter Georgescu became chief executive officer in 1994 and began to streamline the company's operations. In 1995, Y&R began an acquisition push again, increasing ownership in advertising agencies and public relations firms across Africa, Asia, Europe, and Latin America.
In 1996, Hellman & Friedman became Y&R's first outside investor, and on May 15, 1998, Y&R closed an initial public offering of its common stock, and became a public company.
In 2000, Y&R was acquired by the WPP Group, a London-based marketing communications holding company.
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