Singo Leaves Adland

31May07

Simon Canning and Nick Tabakoff, The Australian May 31, 2007

JOHN Singleton, the most famous name in advertising, sold his ad agency last night, on the eve of celebrating 50 years in the business.

Mr Singleton sold his remaining parcel of 18 million shares in STW Group, telling Media: "It’s time to go."

The mercurial adman who went from working in the Sydney mailroom at J. Walter Thompson in 1958 to become the face of the industry, pocketed more than $50 million in the sale, saying years of holding a minority interest in the company he founded had finally taken its toll.

He will focus his attention on his other businesses, ranging from thoroughbred sales to brewing and lingerie.

However, in an exclusive interview with The Australian, Mr Singleton tipped that he may now focus on expanding his media empire, building on his interest in Macquarie Radio.

But he also lobbed a parting shot at his global advertising partner, WPP chief executive Martin Sorrell, whose company owns 14.5per cent of STW Group.

"It’s fair to say that WPP have done a very poor job in Australia," he said.

In recent months Singleton’s relationship with WPP has become increasingly tense, and he has called for the sacking of the head of JWT in Australia (in which STW owns a minority 49per cent share, with WPP owning 51 per cent).

Although he praised Mr Sorrell’s business acumen, he accused WPP of not being interested in Australia and failing to deliver on promises.

"When he gives his word it’s not worth two bob," he said.

"I think Australia for WPP is a missed opportunity from my point of view."

He said he should have retired when he sold half his shareholding in 2005.

"I should have sold out two years ago," Mr Singleton said.

"I’m of the psyche where I should have a controlling interest and be able to have a say. You are neither one thing or the other.

"I don’t want to be an ex, ex, ex has-been. I didn’t want to become Colonel Sanders."

He said the decision to abandon the advertising industry completely was driven by a comment that he would be celebrating 50 years in the business next year.

"Some silly bugger said I was going be celebrating 50 years in advertising next year, so why don’t we have a party. I figure 49 is a good time to get out."

Having started at JWT, Singleton moved to ad agency Berrie Curry, where he flourished. Flushed with success, he then moved on to found Spasm in 1968. By 35 he had sold out of the industry, opting for early retirement. But the lure of advertising was too strong and in 1985 he founded John Singleton Advertising, which went public in 1993.

"I had 20 years the first time and 22 years the second time," he said. "I think it’s just time. I have no regrets, but I just have so much else to do.

"I should have sold out two years ago, but you cling to your old school or footy team.

"I’m looking at getting bigger or smaller in radio and building a bigger brewing business. I have Lonely Planet and the lingerie, which is No.1 in Myer and Moscow.

"I think it is just time to do new things.

At 35 I felt this way and I feel it now."

Mr Tate said while Mr Singleton’s departure from the agency share register was a loss because of his name, the adman had not been involved in the day-to-day running of the business for several years.

Note: STW are majority shareholders in Peach Advertising in Newcastle.

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