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WPP today announced the merger of iconic ad agency Young & Rubicam with digital marketing shop VML as new CEO Mark Read puts his mark on the ad/PR combine.
Set to officially debut in 2019, VMLY&R will feature Y&R's creative and brand advertising savvy and VML's digital expertise to offer integrated communications services to client.
Jon Cook, VML chief, will helm the merged shop and report to Read. David Sable, ex-global head of Y&R, will support Cook.
Read said VMLY&R, which will have more than 7,000 staffers, is an important step in his effort to build a simpler WPP, where clients have easy access to its range of services.
Public Policy Holding Company grew 27.5 percent to $50.1M during Q1, powered by the accelerating contribution from recent acquisitions and a 5.1 percent hike in organic revenues across its three operating segments.
Institutional Shareholder Services advises investors to vote "no" on a compensation package for WPP chief Cindy Rose at the May 8 annual meeting.
FTI Consulting chalked up a 9.5 percent rise in Q1 revenues to $983.3M, powered by gains in its PR, corporate finance and technology segments.
Stagwell reports 4 percent growth in Q1 net revenues to $585M and a record $141M in net new business wins.
WPP reported a 6.7 percent drop to $3.1B in Q1 like-like revenues less pass-through costs. CEO Cindy Rose says 'it will take time to outpace historical losses."
