Lending weight to the new conventional wisdom that PR (not advertising) builds brands from scratch, seed development firm Yazam acquires the Philly-based PR shops Gregory
Communications and Financial Communications Associates, as a means of "accelerating [tech start-ups'] development through access to value-added services." Do we smell a new VC
trend? Why hire a PR firm when you can buy one?Yazam is backed by J.P. Morgan, Merrill Lynch and other financial heavy-hitters.
(Erin Mitchell, 212/239-7945)