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Omnicom’s PR units suffered a 8.6 percent decline in Q2 revenues to $372.9M.
Chris Foster’s PR group, which includes Portland, Mercury, Marina Maher Communications, Porter Novelli, Ketchum and FleishmanHillard, posted a 9.3 percent plunge in organic revenues.
For the first half, PR revenues declined 7.1 percent to $735.6 and 7.0 percent on an organic basis.
CEO John Wren highlighted OMC’s “solid 3.0 percent organic revenue growth this quarter even in the face of ongoing macroeconomic and geopolitical uncertainty—underscoring once again the resilience and agility of our business.”
He is eager to complete the "transformational acquisition” later this year and is “more optimistic than ever about the significant growth opportunities this strategic transaction will create for our people, clients, and shareholders.”
During Q2, OMC posted a 4 percent boost in revenues to $4B and a 21.5 percent drop in net income to $257.6M.
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.
