MSGI Reported to be Exploring Coolidge BuyMarketing Service Group Inc., a multifaceted direct marketing company, has an agreement in principle to acquire The Coolidge Co., a list marketing and brokerage firm, according to sources close to the deal who asked not to be identified. Both companies are based in New York.
Although a definitive agreement has not yet been reached, the participants are optimistic about the prospects for the deal, the sources said. MSGI reportedly would keep Coolidge, which has a sizable client list, separate from Steven-Knox, its other major list management and brokerage concern.
Sources at Coolidge declined to comment, and officials at MSGI could not be reached this week at press time. MSGI, a publicly held company that has been on an acquisition binge, also is in the process of acquiring direct marketing concern Grizzard Communications Group, Atlanta.