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Working with the media to manage a merger

SITUATION:

A pending bank merger between a NC thrift and a large state bank was threatened as it drew controversy and opposition from a strong, well-organized community organization.   A crisis was mounting as the well-financed opposition fought the merger with mudslinging and misinformation.

SOLUTION:

We moved a crisis team into action to assess damage and proactively launch a media relations campaign to gain positive coverage for the merger. Our principal consultant worked onsite to manage the public relations efforts and serve as the media contact. We set up appointments with key media and bank officials to ensure that the banks' story and messages were heard. Meanwhile, back at the office, our creative team developed and placed a series of "here's our side of the story" advertisements, while consulting with attorneys and bank regulators on applicable federal and state laws.

RESULTS:

The media campaign garnered important coverage in local print and broadcast media and the efforts of the opposition were contained. The merger went through with the tenacious efforts of the banks' management, directors and attorneys.