PR News & Commentary

Last Updated: Fri., Jun. 11, 2021 @ 5:44 pm

Category: Financial ManagementReturn to Latest News

Finn Partners Buys Back Stagwell Stake

Wed, May 19, 2021

By Kevin McCauley

Peter FinnFinn Partners has bought back the investment stake that it sold to Mark Penn’s Stagwell Group, and the two companies have amicably separated.

Stagwell Posts 1.8% Dip in Q1 Revenues

Wed, May 5, 2021

By Kevin McCauley

Jay LevetonStagwell 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 Posts 2.8% Q1 Growth

Wed, Apr. 28, 2021

By Kevin McCauley

Philippe KrakowskiInterpublic 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

Tue, Apr. 27, 2021

By Steve Barnes

Greg MatuskyGregory FCA acquires Affect, a B2B-focused firm serving technology, healthcare and professional services clients.

MBO Bails Out of LLYC

Fri, Apr. 23, 2021

By Steve Barnes

LLYCMBO & Co, a French private equity firm, has sold its 30 percent stake in LLYC to the firm’s partners.

Sorrell Takes a Bow at S4 Capital 

Thu, Mar. 25, 2021

By Kevin McCauley

Martin SorrellS4 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 Spills $3.4B in 2020 Red Ink

Thu, Mar. 11, 2021

By Kevin McCauley

Mark ReadWPP 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 Posts Upbeat Q4 Performance

Tue, Mar. 9, 2021

By Kevin McCauley

Jay LevetonStagwell Marketing Group reported a 67.5 percent surge in Q4 revenues to $313.1M, sparked by growth in its technology and digital businesses.

Interpublic, Omnicom Disclose Pandemic Cuts

Mon, Feb. 22, 2021

By Kevin McCauley

IPGInterpublic 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 Reports 8.3% Dip in 2020 Revenues

Wed, Feb. 17, 2021

By Kevin McCauley

Jose Antonio LlorenteLLYC 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 Posts 6.1% Slide in Q4 Revenues

Wed, Feb. 10, 2021

By Kevin McCauley

Philippe KrakowskyInterpublic 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.

Sorrell Sees More Deals Ahead

Mon, Jan. 4, 2021

By Kevin McCauley

Martin SorrellS4 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, MDC Shoot for $3B Revenues Mark

Tue, Dec. 22, 2020

By Kevin McCauley

Mark PennStagwell Group and MDC Partners have ironed out a definitive merger agreement to form what CEO Mark Penn calls a $2B “transformative” marketing services company.

SEC Slaps Cheesecake Factory for Misleading Press Releases

Fri, Dec. 4, 2020

By Kevin McCauley

Cheesecake FactoryThe 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 Retires Grey Global

Wed, Nov. 11, 2020

By Kevin McCauley

GreyWPP 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.

Huntsworth Acquires Nucleus Global

Fri, Nov. 6, 2020

By Kevin McCauley

Paul TaaffeUK-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 Posts 5.5% Dip in Q3 Revenues

Thu, Oct. 29, 2020

By Kevin McCauley

Mark ReadWPP 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.