2. Carol H. Williams Advertising

Carol H. Williams Advertising (CHWA) is the nation’s largest minority- and woman-owned advertising agency. The Oakland, California-based firm operates regional offices in Chicago and New York.

Clients include Albertson’s, Crown Royal, Protector & Gamble, Oakland International Airport, and Coors Light among others.

Target Market News announced in April, that CHWA will be a minority stakeholder in the Black Television News Channel—the nation’s only African American news network set to debut in 2010. Under the partnership, CHWA will oversee all advertising, marketing, and PR services.

In 2008, the agency’s billings totaled $311 million—down %9.8 from the previous year.