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WPP has unloaded its minority stake in Richard Attias & Assocs., strategic consultancy and events firm, as CEO Mark Read works to simplify the ad/PR combine in his quest to create a creative technology powerhouse.
RA&A, which is headed by Richard Attias, one-time executive producer of the Davos Forum, organized the so-called “Davos in the Desert” conference last year that was presided over by Saudi Crown Prince Mohammed bin Salman.
That event, which followed the torture, death and dismemberment of Washington Post contributor Jamal Khashoggi in Saudi Arabia's consulate in Istanbul, was boycotted by US officials and CEOs such as JPMorgan Chase's Jamie Dimon.
Richard Attias was the executive producer of the Davos Forum. He also founded the New York Forum and co-founded the Clinton Global Initiative.
WPP is selling its stake to RA&A management.
Public Policy Holding Company registered 23.8 percent Q3 growth to $48.8M, with organic growth contributing 4.5 percent and the balance driven by merger & acquisition activity.
Publicis Groupe reported 3.1 percent in Q3 growth to $4B, sparked by a 3.6 percent jump North America, its biggest market.
WPP suffered a 10.2 percent drop in 1H revenues to $6.7B and a 47.8 percent plunge in operating profit to $297M.
Interpublic reported Q2 net revenues dropped 6.6 percent to $2.2B and operating income tumbled 23.4 percent to $243.7M. 
WPP has adopted a gloomier profit and sales forecast due to a deteriorating Q2 financial performance triggered by weak client spending as companies cope with the challenging economic backdrop.
