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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
DATE OF REPORT (DATE OF EARLIEST EVENT REPORTED): APRIL 13, 1999
True North Communications Inc.
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(exact name of registrant as specified in its charter)
Delaware 36-1088162
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(State or other jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
101 East Erie Street, Chicago, Illinois 60611-2897
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(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (312) 425-6500
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(Not Applicable)
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Former name or former address, if changed since last report
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Item 5. Other Events
On April 13, 1999, the registrant issued a release in the form attached
to this Report as Exhibit 99.1.
Item 7. Financial Statements, Pro Forma Financial Information and Exhibits
(c) Exhibits:
99.1 Press Release dated April 13, 1999.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
TRUE NORTH COMMUNICATIONS INC.
By /s/ KEVIN J. SMITH
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Kevin J. Smith
Senior Vice President
Chief Accounting Officer
Dated: April 13, 1999
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EXHIBIT INDEX
Exhibit No. Description
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99.1 Press Release dated April 13, 1999
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Exhibit 99.1
Date: April 13, 1999
Contact: Kathryn Woods, 212/727-5582
FOR IMMEDIATE RELEASE
PEEBLER NAMED CHAIRMAN EMERITUS OF TRUE NORTH; ZAMMIT NAMED CEO OF DIVERSIFIED
COMPANIES GROUP -- Diamond of BSMG Worldwide named Chairman of Diversified
Companies Group --
CHICAGO--David Bell, chairman and CEO of True North Communications Inc. (NYSE:
TNO), announced today that Charles D. Peebler, Jr. has been named chairman
emeritus of the agency holding company, effective as of the Annual Shareholders
Meeting in May. Since the merger of True North and Bozell, Jacobs, Kenyon &
Eckhardt in 1997, Peebler was president of True North and chairman and CEO of
its Diversified Companies group.
Bell also announced changes in the senior management of True North Diversified
Companies, which is composed of the non-advertising operations of True North.
Valentine J. Zammit will succeed Peebler as president and chief executive
officer of the division. In addition, Harris Diamond has been named chairman of
True North Diversified Companies. Diamond will continue as chairman and chief
executive officer of BSMG Worldwide.
Zammit assumes operational responsibility for the Diversified Companies group,
for which he previously served as chief operating officer. He will also join
True North's management executive committee. Zammit had been COO of True North
Diversified Companies. Earlier, he was vice chairman and CFO of BJK&E, which he
joined in 1980.
Peebler in Key Strategic Role
Peebler, one of the architects of the merger which brought Bozell, Jacobs,
Kenyon & Eckhardt together with True North, will work on developing new business
and on working with certain key clients of the company.
"Chuck's involvement will prove invaluable in key areas including new
business, major client relationships, acquisition strategy and entrepreneurial
venture development," Bell said. "Chuck and I have worked together intimately
since 1974, and I am delighted to have his help and counsel in his new role."
Peebler commented. "After 41 years it's time for a new role and this position
allows me to focus on the areas I find most interesting - focusing on our
overall corporate growth and success."
The Diversified Companies group, which makes up approximately a quarter of True
North's revenues, is composed of more than 25 operating units in eight marketing
service disciplines. Among its major components are BSMG Worldwide, the forth-
largest public
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relations and communications management firm in the U.S. and seventh worldwide;
Promotion Services Group, including seven promotional marketing companies; TN
Media, a media services company, Bozell Wellness Worldwide, a group of four
healthcare marketing units; TN Directory Services, two Yellow Pages agencies;
Tierney & Partners, Pennsylvania's largest agency; R/GA, an interactive digital
design company; New America Strategics Group, specializing in multicultural
marketing, plus research and direct marketing operations.
"Val Zammit provides Diversified Companies with dynamic leadership,
extraordinary commitment and great depth of experience," said Bell
"Val and I have been colleagues since 1982, building, buying and reshaping our
organization. I am confident that he will leverage the momentum of our
diversified holdings through both internal growth and acquisitions."
"Harris Diamond has driven the extraordinary growth of BSMG Worldwide over the
past three years," Bell added. "While he will focus on continuing that growth, I
have confidence that in Val and Harris we have a leadership team with important
critical and complementary skills."
True North Communications, the sixth largest marketing communications holding
company in the world, has its headquarters in Chicago and serves clients from
more than 300 full-service operations in 83 countries. With two global
advertising networks, Foote, Cone & Belding Worldwide and Bozell Worldwide, as
well as The Diversified Companies Group, True North has annual revenues
exceeding $1.2 billion.
