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Exclusive: Russell Simmons and Donnovan Andrews Working to Build Cultural Shop

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We’ve confirmed that Russell Simmons and Donnovan Andrews are working together on a venture to create a new agency.

The basic idea: “addressing the multi-cultural market in ways that jay-z and and steve stout did not.”

We first told you about the possibility of their plan in early September. According to a source close to the matter, we can tell you that our story was indeed correct. There will be more details on this story to follow.

For background, Andrews is the founder of Performance Bridge Advertising. He’s worked for DDB and Deutsch, and according to iMedia is a regular contributor to CNBC. See a video with Donnovan’s thoughts on iMedia, after the jump.

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