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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.
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.
Why financial planning always plays a crucial role in every PR firm’s success.
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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