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Omnicom today reported a 4.4 percent slide in first-quarter revenues to $3.5B, slippage that CEO John Wren blames on negative foreign currency rate comparisons and divestitures.
Net income was flat at $263.2M.
On a regional basis, OMC's US revenues decreased 0.2 percent to $1.9B. Europe was down 14.8 percent to $606.8M, UK fell 5.4 percent to $338.7M and Asia/Pacific tanked 6.6 percent to $366.2M.
The PR group, which includes FleishmanHillard, Porter Novelli, Ketchum, Portland, Cone and Marina Maher Communications, fell 3.5 percent to $334.2M and 0.5 percent organically.
C Street Advisory handles iRobot Corp as the marketer of the Roomba autonomous vacuum cleaner files Chapter 11 after being squeezed by cheaper competitors.
Joele Frank represents Confluent Inc. as the Mountain View, CA-based data streaming platform company agrees to be acquired by IBM in a deal with an enterprise value of $11B.
Tom Johnson, who has headed H/Advisors Abernathy since 2016, will join FGS Global as global head of private capital & financial services, effective Dec. 16.
Brunswick Group and Gagnier Communications are handling Paramount’s $30 cash per-share offer for all of Warner Bros Discovery, topping Netflix $27.50 cash/stock transaction.
ICR Inc. handles communications for Enhanced Ltd, which plans to run Olympic-type competitions with athletes using performance-enhancing drugs, as it goes public in a SPAC deal valued at $1.2B via a merger with A Paradise Acquisition Corp. of Hong Kong.
