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Grey, IPG Settle Suit

Without money changing hands, WPP Group's Grey Global Group and Interpublic Group have settled a lawsuit that Grey had filed in September against IPG, its Foote Cone & Belding agency and FCB's worldwide CEO, Steve Blamer, for allegedly violating Blamer's contractual obligations to Grey as a result of IPG's hiring of Steve Centrillo from Grey and later naming him president and CEO of FCB in New York. AdWeek writes that Grey has agreed to withdraw its claim, and IPG has agreed to honor the terms of Blamer's employment contract with Grey. His noncompete agreement ends in June 2006.

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