According to The Wall Street Journal, Interpublic Group of Cos. reported a 71% drop in second-quarter profit. The New York-based parent company of DraftFCB and McCann-Erickson reported earnings of $27.8 million, down from $95.1 million a year earlier. Ouch. Interestingly, the paper seems to be taking the news in stride. There’s no big article, no […]
Say what you will about Bob Garfield, but his column does get the attention of the ad industry. And this week’s column, An Open Letter to John Wren, will certainly get attention, as he addresses the CEO of Omnicom about some not-so-subtle gay bashing in this Snickers spot done by AMV BBDO in London. The […]
According to Adweek, Omnicom–the world’s largest advertising holding company, with BBDO, DDB, TBWA, OMD and PHD, among others on the roster–is making good money. Omnicom’s fourth-quarter net income rose more than 13 percent to $314 million on a 12.7 percent increase in revenue to $3.62 billion, compared to the same period a year ago. CEO […]
Matthew Creamer of Ad Age speculates on an ownership struggle at Crispin. This year, MDC Partners has the option to raise its stake in Crispin from 49% to 60%, according to financial filings. In 2008, the stake could be increased to 77%. MDC has deferred these options in the past and could do so again. […]
I know our friend George Parker has an opinion or two about the CEO of WPP, but how did Sorrell get to be one of the most powerful people in the advertising industry? Here’s a good overview of Sorrell’s background, which is in the news again as he’s currently involved in a pretty nasty lawsuit […]
“We’re turning Interpublic into a real company.” So says Michael Roth, CEO of Interpublic. Ad Age has the full report on what Roth said today at a media-industry conference.