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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.
WPP reported a 5.5 percent decline in Q1 PR revenues to $292M as its BCW and Hill & Knowlton units suffered the loss of Pfizer assignments, and cutbacks in client spending due to the economic uncertainty.
Interpublic CEO Philippe Krakowsky said the firm is off to a “solid start to the year” as its flat $2.2B net revenues are in line with 2024 financial targets.
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Omnicom CEO John Wren reports Q1 revenues jumped 5.4 percent to $3.6M, powered by a solid 7.0 percent rise in its advertising & media segment.
Public Policy Holding Company registered 24.1 percent growth to a record $135M during the past year, which included the results of the March 1 acquisition of Multistate Assocs.
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