TWO leading advertising agencies will merge operations next month in a deal aimed at creating a creating a robust entity — possessing the critical mass that will give stakeholders more value for money in the local advertising market, estimated to be worth some $10 billion.

The new firm, comprised of Dunlop Corbin Communications (DCC) and Prism Communications, will begin trading as DCC Prism Limited effective February 1, 2010. DCC Prism will be located at Oxford House — the current offices of Dunlop Corbin — and will have a staff compliment of between 40 and 45 workers.

Beverly Hirst, managing director of Prism, hailed the new venture as a “bold and original step in the right direction”. She told the Business Observer that the deal came about as both entities brainstormed on ways to combat the forces of a weak economy combined with an increasingly competitive advertising industry.

“We felt that we needed to do something because our industry is getting so fragmented and we have to look at the whole economic situation in Jamaica,” said Hirst. “So, we got together and had a talk about it and the outcome was that we thought that that was the route to take.”

DCC president Gregory McClure, who estimated the advertising market at the moment to be $10 billion, summarised the merger as a ‘win-win’ for all parties involved.

“We are viewing it extremely positively,” he said. “The critical mass of the new agency will generate volumes that derive greater client value for money, with speed, agility and originality… and the hope is that all shareholders will benefit.”

Prism Communications has three shareholders: Beverly Hirst and her husband, Mike Hirst; and Tony Scott. Founded by Beverly Hirst, Prism started out as Prism Design Studio in 1989. In 2002, both Mike Hirst — former head of McCann-Erickson Jamaica — and Scott, joined the company, and it was subsequently renamed to Prism Communications.

DCC is an amalgamation of several advertising agencies, which started back in 1956. The principal shareholders of the entity today are McClure, Gurney Beckford, Wayne Stewart and Francis Godfrey.

According to McClure, the board of directors of the merged entity will be pulled from both organisations and also include persons from external organisations. He said final decisions on individual leadership positions will be decided before the actual launch at the beginning of next month.