Finn Partners Buys Back Stagwell Stake
Wed, May 19, 2021
By Kevin McCauley
Finn Partners has bought back the investment stake that it sold to Mark Penn’s Stagwell Group, and the two companies have amicably separated.
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Finn Partners has bought back the investment stake that it sold to Mark Penn’s Stagwell Group, and the two companies have amicably separated.
Stagwell Group reported a 1.8 percent dip in Q1 revenues to $181.2M and a 63.2 percent decline in net income to $4.6M due to a tough comparison to a political year and the continued impact of COVID-19 on operations.
Interpublic today reported Q1 net revenues rose 2.8 percent to $2B and net income hit $91.7M compared to a year ago $4.7M profit. (Updated)
Gregory FCA acquires Affect, a B2B-focused firm serving technology, healthcare and professional services clients.
MBO & Co, a French private equity firm, has sold its 30 percent stake in LLYC to the firm’s partners.
S4 Capital chalked up an “outstandingly successful” performance during its second full year of operation, according to founder Martin Sorrell, as like-for-like revenues jumped 15.2 percent to $475M.
WPP posted a $3.4B pretax loss in 2020 due to $3.7B in COVID-19 impairment charges compared to a $1.4B year-earlier profit. CEO Mark Read sees 2021 as a "year of solid recovery."
Stagwell Marketing Group reported a 67.5 percent surge in Q4 revenues to $313.1M, sparked by growth in its technology and digital businesses.
FTI Consulting’s PR revenues declined 8.8 percent to $60.5M during the fourth quarter, while operating income jumped 20 percent to $10.2M.
Interpublic cut global employment by 7.6 percent to 50,200 at year end 2020, according to its SEC filing. Omnicom chopped 8.4 percent of its staff.
LLYC reported an 8.3 percent dip in 2020 revenues to $53.3M largely due to the devaluation of currencies in Brazil, Mexico and Argentina triggered by the COVID-19 pandemic. Those results compare to a record-setting 2019 performance.
Interpublic today reported a 6.1 percent decline in Q4 net revenues to $2.3B and a 54.5 percent drop in operating profit to $223.4M due to the negative impact of the COVID-19 pandemic.
Joele Frank Wilkinson Brimmer Katcher and Sard Verbinnen topped the 2020 Mergermarket global rankings of PR firms handling M&A transactions.
Acceleration Partners has acquired Streamline Marketing, a Seattle-based performance marketing agency founded in 2013 by CEO Jon Claydon.
S4 Capital’s Martin Sorrell today announced the acquisitions of Decoded Advertising and Metric Theory, moves that add 350 staffers to the firm’s 3,400-member talent base.
Stagwell Group and MDC Partners have ironed out a definitive merger agreement to form what CEO Mark Penn calls a $2B “transformative” marketing services company.
The Securities and Exchange Commission has charged The Cheesecake Factory with issuing material misstatements in its March 23 and April 2 press releases regarding the impact of COVID-19 on its business.
WPP is retiring the Grey Global shop, which bills itself as “famously effective since 1917,” as CEO Mark Read continues the revamp of the ad/PR giant.
UK-based Huntsworth has acquired New Jersey’s Nucleus Global, a top medical specialist communications operation with more than 800 staffers in 14 offices throughout the world.
WPP chief Mark Read reports a 5.5 percent decline in Q3 like-for-like revenues to $3.9B as the firm battles the impact of the pandemic. The PR unit held on as WPP's best performer as revenues dipped 4.8 percent.
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