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Boston Ad Agency to Buy Bob Woolf Associates from Sports Agent's Widow.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, May, 1996 by Halbfinger, David M.
May 23--Arnold Communications Inc., the Boston advertising agency, today plans to buy Bob Woolf Associates from the late sports agent's widow.
Sources close to the deal said Arnold will pay Anne Woolf at least $3.5 million and possibly as much as $7.5 million over six years for the agency, whose clients include Tom Glavine, Larry King, and Larry Bird.
Ed Eskandarian, chairman of Arnold, said he expected the transaction to close this morning, barring any surprises.
Bobby Orr, the former Bruins star, is expected to join the agency, which will retain Woolf's name. Orr will serve mainly as a goodwill ambassador, lending his prestige and contacts to the agency, the sources said.
In addition, Larry Moulter, the president and chief executive of the...
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