Commercial communications network of preeminent companies in advertising, public relations, identity and design, sales promotion, direct marketing and health care communications.
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, Y&R expanded with the acquisition of Wunderman Ricotta & Kline in 1973, Cato Johnson in 1976, and Burson-Marsteller in 1979. As of 2006, Burson-Marsteller remained a subsidiary of Y&R.
Y&R became the highest-billing advertising agency in the United States in 1975 with billings recorded at $477 million.[citation needed]
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 streamlined the company's operations. In 1995, Y&R began acquiring and 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 advertising agency.
