Did Microsoft $6 billion buy cause AvenueA Razorfish to lose clients?

Well it’s too soon to tell–the ink is still drying on the aQuantive deal, Microsoft’s biggest acquisition ever. (Have you noticed how organic growth stops when garage entrepreneur’s become behemoths?)

My suspicion is that Razofish will be affected. It’s not wise for any media to buy an agency and vice versa. This is not rare though; WPP for example own media. Nielsen are owned by VNU. Marketers will simply have to set-down ground rules to their media planners in-house or outsourced. Or conflicts of interest will run amuck. With the large consumer packaged goods and auto accounts, the biggest on-line buyers this will buzz around the water cooler. Razorfish’s client lunches budget will balloon. I’ll bet they are sipping apple martinis on Mad Avenue as I key-in.

Did Microsoft account for advertiser losses in its valuation? Will Microsoft spin out the Agency? It would make life easier; but, temperance can prevail.