News Brief

South Korean Acquires Southern Shop: McKinney Now Part Of Cheil

South Korean agency holding company Cheil Worldwide has acquired Durham, NC–independent McKinney, according to The New York Times. The acquisition, which was estimated at $50 million, is part of Cheil’s bid to bulk up and transform its presence in North America, and follows a slew of new creative talent that has joined the agency in the past year. McKinney has been independent since it bought itself back from another overseas owner, France’s Havas, in 2008.