TM Advertising, a Dallas-based agency that bought itself back from IPG two years ago, is closing its doors after an 85-year run.
Becca Weigman, CEO of TM Advertising, told Adweek today that a recent “perfect storm” of client cutbacks led to its closure.
“It’s a financial decision. It’s a very competitive environment,” she said. “Three of our largest clients reduced their fees tremendously. While we won some new business, we didn’t win fast enough.”
Weigman did not share how many employees were impacted by the decision, or the names of the three clients.
“I’m really proud of the TM team and the talent. I would do it all again. You should always take risks and do what you love,” she said. “I’m excited for my new chapter.”
Founded in 1934 as Glenn Advertising, the agency became Temerlin McClain in 1992 and was purchased by holding company Interpublic Group in 2001. Soon after, its name was shortened to TM Advertising. The agency’s management team purchased the agency back from the holding company in 2017.
In 2015, TM Advertising lost American Airlines, an account it had worked on for 34 years. The airline gave its creative and media business to CPB following a review, which TM Advertising chose not to participate in.
The agency also is known for creating Nationwide’s “Life Comes At You Fast” campaign, and made a Super Bowl spot for the insurer in 2007 featuring Kevin Federline.
Last year, TM Advertising’s chief creative officer Lisa Bennett left to join Laughlin Constable.