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| Peter Finn |
Finn Partners has bought back the investment stake that it sold to Mark Penn’s Stagwell Group, and the two companies have amicably separated.
As part of the deal, Finn Partners sold its interest in the Wye Communications joint venture to Stagwell. Wye was established as a Finn Partners' conflict shop.
“Our partnership with Stagwell, which started in 2017 and lasted more than four years, served us well,” CEO Peter Finn told O’Dwyer’s. “We leveraged their minority investment to augment our growth and development in key areas around the world."
He noted that Finn Partners has nearly doubled in size since the deal was made, and he “is grateful to Stagwell for their help in making this possible.”
Finn and Penn attended high school together and have known each other for about 50 years.
Finn Partners is O’Dwyer’s No. 4 ranked firm with fee income of $109.9M in 2020.
Stagwell owns SKDKnickerbocker, Sloane & Co, Allison+Partners, Hunter and KWT Global.
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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