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C Street Advisory Group handles the Chapter 11 of Publishers Clearing House as the home of the iconic “prize patrol” sheds its direct mail and magazine businesses to focus on becoming a digital advertising-supported entertainment company.
CEO Andy Goldberg assured investors that sweepstakes will continue to be a cornerstone of the business as PCH upholds the more than 50-year legacy of the business.
PCH this week surprised a lucky winner with a $50K check and the prize patrol hit the road to award a $10K winner.
It has hired SSG Advisors to explore a variety of strategic options, including the sale of the business or a cash infusion by a financial partner.
Stagwell CEO Mark Penn reports Q3 net revenues jumped 6 percent to $614.5M, a record performance for a non-political period. Operating income soared 45.7 percent to $60.9M.
Joele Frank works for Klöckner Pentaplast as the German maker of plastic films declares Chapter 11. A successful reorganization would slash its its corporate debt by $1.5B.
Teneo represents Metsera, the New York City biotech focused on weight-control products, which is subject to a bidding war between heavyweights Novo Nordisk and Pfizer.
Haggie Partners is working the $7B takeover of the specialty insurer Convex by Canada’s Onex private equity fund and American International Group.
WPP reported Q3 revenues less pass-through costs tumbled 5.9 percent to $3.3B, a performance new CEO Cindy Rose called “unacceptable.”
