 Mark Penn |
MDC Partners shaved its first-quarter loss to $2.5M from $31.3M a year due to its cost-cutting measures of staff, real estate and corporate expenses put into place during 2018.
New CEO Mark Penn said MDC is "on the path to return to both bottom and top-line growth and positive cash flow by the end of the year."
He promised new steps to increase efficiencies, bolster intra-agency cooperation and expand the offerings of its lead shops.
Penn has implemented a two-year program to "transform MDC to the model of a modern marketing services company, combining top creative talent with leading data, research, strategy, digital and media offerings."
MDC's Q1 revenue inched ahead 0.6 percent to $328.8M. Its PR shops are Hunter, KWT Global, Sloane & Co and Allison + Partners.
FTI Consulting handles media for Modivcare Inc., the Denver-based provider of non-emergency healthcare services. as a Texas federal bankruptcy court confirms its Chapter 11 restructuring plan.
WPP shares have been dropped from the London Stock Exchange’s prestigious FTSE 100 index as its stock market price has plunged by two-thirds this year.
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.
