 |
| Mark Read |
WPP chief Mark Read is ironing out a deal to sell The Farm, film/TV post-production unit, to US-based Picture Shop, according to the Times of London.
Former WPP CEO Martin Sorrell acquired a majority stake in The Farm in 2004.
Founders Vikki Dunn and Nicky Sargent own a 25 percent stake in the studio.
The divestiture is part of Read's strategy to downsize WPP and focus on its creative and technology offerings.
At the June 12 annual general meeting, Read said his plan to sell a majority stake in the Kantar research business "is progressing in line with our expectations."
Reiterating 2019 financial guidance, Read noted revenues will be down 1.5 percent to 2.0 percent " with stronger headwinds in the first half, due to client assignment losses in the latter part of 2018.
S&P Global has reaffirmed its negative “BBB” rating on WPP due to ongoing challenges that it will face during the next 12 months.
Stagwell’s Q4 revenues grew two percent to $807M while adjusted EBITDA rose three percent to $129M.
WPP CEO Cindy Rose unveiled “Elevate 28,” a strategic plan to simplify the troubled company, which reported a 5.4 percent drop in 2025 revenues to $13.6B.
Omnicom CEO John Wren reported a Q4 $977.2M operating loss, largely due to the $1.1B in severance and repositioning expenses connected to the $13B Interpublic takeover that closed on Nov. 26.
Publicis Groupe reports an 8.8 percent rise in 2025 net revenues to $16.4B with
