Street talk links Jacoby to FCB deal

In the rumor-laden world of New York advertising, the word onthe street last week was that investment bankers wanted to backRobert Jacoby in a move to take control of Chicago-based Foote, Cone& Belding Communications.

Jacoby, who has been sitting on about $100 million since thesale of his ad agency last August to Saatchi & Saatchi Co., yesterdaydenied in a phone interview any interest in Chicago-based FCB or thathe has discussed such a plan with anyone.

But Wall Street analysts did not dismiss the possibility of sucha turn of events.

"It wouldn't surprise me," said Charles Crane, an analyst withPrudential-Bache. "Jacoby has it in his mind that he's a …