Omnicom Media Group has sold ICON International to the specialty media company’s management team.
Commercial details have not been revealed.
ICON was founded in 1986 to buy unwanted goods from companies using advertising as payment in a barter transaction. It was bought by Omnicom in 2003.
The company says the sale is part of Omnicom's continuing realignment of its portfolio of businesses and is consistent with its strategic plan and investment priorities.
CEO John Wren: "I want to thank the management team and employees of ICON for their years of commitment to Omnicom and wish them continued success."
The sale is not expected to have a material impact on Omnicom's ongoing operating income for the full year 2021.
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