 |
| John Wren |
Omnicom reports a 4.0 rise in Q3 revenues to $4B and an 11.7 drop in operating income to $530M. Organically, OMC was up 2.6 percent.
Noting that OMC is closing the Interpublic deal next month, CEO John Wren claims the firm is “already seeing strong momentum with significant new business wins across both companies, underscoring the compelling opportunities this acquisition creates.”
The merger “will enhance the ability to deliver revenue growth, operate with greater efficiency, and generate healthy free cash flow, and only strengthen our confidence in the future – for our clients, our people and for long-term shareholder value,” he added.
Chris Foster’s PR group, which includes Portland, Mercury, Marina Maher Communications, Porter Novelli, Ketchum and FleishmanHillard, posted a 6.6 percent decline in revenues to $377.2M. It was off 7.5 percent on an organic basis.
For the nine-month period, the PR unit suffered a 6.9 drop in reported revenues to $1.1B. It was down 7.2 percent organically.,
IPG CEO Philippe Krakowsky plans to release the firm’s Q3 financials on or around Nov. 10. There will be no analyst call to discuss the results.
Longacre Square Partners represents Ancora Holdings as it urges the board of Big Yellow Group to conduct a strategic review of the UK’s No. 1 self-storage company.
Kekst CNC handles Getty Images as it begins a prepackaged Chapter 11 reorganization and receives a commitment from Koch Equity Development and the Getty family to invest $533M in the visual content company.
As capital concentrates among established firms, emerging managers must find new ways to earn investor confidence.
Teneo handles True Food Kitchen as the Scottsdale, AZ-based wellness food restaurant chain that counts Oprah Winfrey as a minority investor files for Chapter 11.
FGS Global and Teneo represent Canada’s billionaire Weston family as its Wittington Investments holding company acquires Boots Group, the 177-year-old UK health & beauty retailer, from Sycamore Partners for $8.9B.
