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.
December 17, 1997 |
A Delaware court granted an emergency restraining order barring French advertising company Publicis from trying to gain control of True North Communications Inc. A chancery court spokeswoman said Chancellor William Chandler granted the motion after a hearing early Tuesday before the court officially opened. Chicago-based True North sought the order against Publicis, which has tried to block True North's proposed merger with Bozell, Jacobs, Kenyon & Eckhardt Inc.
July 19, 1999 |
Advertisers spent $19.1 billion pitching their products in the first quarter, a 4.6% increase over last year, a survey found, as the U.S. economy remained strong and Internet companies advertised more. General Motors Corp. was the leading advertiser, spending $622.7 million, a 16.4% increase, Competitive Media Reporting said. Pampers and Crisco oil maker Procter & Gamble Co. was the second-biggest advertiser, even though it cut its spending 10% to $393 million.
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.
November 8, 1997 |
The new management of Taco Bell Corp. on Friday awarded the regional advertising portion of its $200-million account to Foote, Cone & Belding of Chicago. Foote Cone beat out sister agency Bozell Worldwide, which has handled the business since 1994. The agencies are units of Chicago-based True North Communications Inc. Foote Cone "has committed to making a significant investment in quickly building an experienced field team," Taco Bell Marketing Director Vada Hill said in a statement.
September 10, 1999 |
Advertising agency True North Communications Inc. said Thursday that it has combined its FCB Worldwide unit with two U.S. offices and all international offices of its Bozell Worldwide division to create the fifth-largest global ad agency, with annual billings estimated at $8.2 billion. The move is expected to lead to further consolidation of True North's operations in Southern California, where about 200 people are employed in four offices in Los Angeles and Orange counties.
May 2, 2001 |
Consumer products giant Procter & Gamble Co. said Tuesday that its fiscal third-quarter earnings before restructuring-related items rose 9.4% as price increases for Tide laundry detergent and Pampers diapers helped offset a decline in shipments. Price increases in Always feminine-care products in Western Europe and Pantene shampoo in the United States also boosted earnings, which, excluding the items, rose to $1.01 billion, or 71 cents a share, in line with analysts' expectations.
January 2, 2001 |
Some big advertisers facing pressure to cut costs are betting that they can reach customers effectively by having fewer agencies craft their messages. The trend, which gained steam this last year, is working to the advantage of larger agencies with global networks but against smaller ad firms with few offices and limited connections. "This has been happening for several years, but it really manifested itself this year, and I believe it will continue in 2001," said Stephen A.