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| Philippe Krakowsky |
Interpublic posted a 5.1 percent drop in Q3 net revenues to $2.5B as CEO Philippe Krakowsky reports the final financial results of the publicly traded company.
Organically, IPG suffered a 2.9 percent drop in revenues as it heads for a merger into Omnicom.
The specialized communications services group (Weber Shandwick, Golin, DeVries Global, Current Global and IPG DXTRA Health) reported a 6.8 percent plunge in Q3 revenues to $600M. Segment EBITA dropped to 24.2 percent to $59.4M.
In the US, the SC&E operation posted a 10.7 percent dip in Q3 revenues to $413M. It was up 2.7 percent internationally.
On a nine-month basis, the communications group was down 2.7 percent to $1.8B. EBITA dipped 14.8 percent to $150M.
Team Krakowsky took a Q3 $129.5M severance and termination charge to cover the firing of about 800 workers. The nine-month charge tallied $450.8M.
IPG shareholders will own a 39.4 percent stake in the bulked-up Omnicom.
Prosek Partners handles New York’s Tilray Brands, craft beer & cannabis operation, as it acquires BrewDog, a leading British independent beer producer in the UK, for $45M.
Brunswick Group handles Zurich Insurance as it agrees to buy UK-based Beazley specialty insurer in a deal valued at $11B.
FGS Global represents Brink’s as it agrees to acquire NCR Atleos, which relies on Collected Strategies, in a $6.6B cash & stock deal to create a leading fintech infrastructure company. (Updated)
A January article in O’Dwyer’s proposes that in 2026, the strongest financial brands will not simply tell compelling stories—they will “signal readiness.”
C Street Advisory Group is working the Chapter 11 filing of Axip Energy Services as it unloads its nearly all of its assets to deal with a heavy debt load.
