June 15, 2001 |
Interpublic Group, the third-largest advertising agency, and True North Communications Inc., a rival it's buying, expect second-quarter profit to miss forecasts because of slower advertising sales growth. Interpublic said it now expects profit of 30 cents to 35 cents a share, compared with its previous estimate of 40 cents to 45 cents. Analysts on average were expecting 42 cents, according to First Call/Thomson Financial.
March 20, 2001 |
In a deal that would create the world's largest advertising company, Interpublic Group of Cos. is buying True North Communications Inc. for about $2 billion in stock. The deal announced Monday enables New York-based Interpublic to add global agency network FCB Worldwide, one of the world's oldest advertising concerns, to its two existing global networks, McCann-Erickson WorldGroup and Lowe Group.
December 2, 2000
* Coca-Cola Co. said it will team up with Interpublic Group of Cos. Inc. to develop, refine and focus the "brand essence" for its Coca-Cola brand, which represents about 60% of its overall volume. Terms of the alliance, which the companies expect to initiate in early 2001, were not disclosed.
December 1, 2000 |
Interpublic Group of Cos., the world's No. 3 advertising group, said it acquired U.S. advertising and marketing agency Deutsch Inc., which created Bad Andy, the mischievous "spokespuppet" for Domino's Pizza. Interpublic declined to say how much the deal was worth, but Chief Executive Philip Geier said it was less than reports of between $250 million and $300 million.
November 9, 2000 |
Fast-food giant Burger King said it dropped Lowe Lintas & Partners, a unit of the world's No. 3 advertising group Interpublic Group of Cos., as its ad agency during a review of the chain's $400-million advertising account. Michael Draznin, a Lowe Lintas spokesman, said its capitalized billings for the account were about $90 million. The Lowe account was primarily for creative work. Burger King spokeswoman Kim Miller said the bulk of the ad budget goes to media buying for broadcast spots.
October 7, 2000 |
General Motors Corp. said it is changing its advertising agency of record for corporate activities for the first time in 28 years, moving the work to McCann-Erickson Detroit from N.W. Ayer & Partners. McCann-Erickson Detroit, part of the InterPublic Group of Companies, is the ad agency for GM's Buick division. The company has also handled cross-divisional and corporate brand work. GM said it made the move to consolidate some advertising functions for strategic and tactical reasons.