Archive for 2003

Why Publicis collaborated over Cordiant receivership

The failed attempt by Publicis Groupe and Cerberus Capital Management to force Cordiant Communications Group into receivership last month was aimed at acquiring its outstanding 25% shareholding in... Read more

Poor financial management brings Harry Nash down with £2m debts

Allegations of accounting errors failed to disguise the root cause of collapse of the commercials production house Harry Nash Film Productions last month, owing an estimated £2 million or... Read more

Publicis cuts cost of servicing its highly geared balance sheet

French-based multinational Publicis Groupe has borrowed another €616 million in the form of a low coupon convertible bond issue that will mature after five years. Proceeds will be used... Read more

Nomadic Siegal & Gale moves on…

Siegal & Gale, the US design consultancy that was founded by Alan Siegal and Robert Gale in 1969, acquired by Saatchi & Saatchi Company during the nineteen eighties, and then bought itself... Read more

M&C Saatchi talks to Sports Media

Sports Media, the business bought back from the receivers of Sportsworld Media Group by its former owners Keith Impey and Marcus Wright last May, is in talks with M&C Saatchi Worldwide about a... Read more

Campbell Doyle Dye loses £491,000

Start-up agency Campbell Doyle Dye lost £491,000 in its first 15- month financial period, according to its audited accounts. CDD started life with very little share capital - just £4,500.... Read more

WPP varies its goodwill policy to accommodate Y&R and Tempus costs

WPP Group has adopted a far more liberal assessment of the £3.3 billion value of goodwill attributed to its purchases of Young & Rubicam and Tempus Group than it has applied to other... Read more

Revenue slowdown and lower margins weaken finances of private firms

With fewer than one in three privately-owned agencies achieving a recurring annual growth rate of 15% or more, and profit margins being eroded across the board, only three out of 50 businesses scored... Read more

Events downturn hits Ten Alps profits

A major decline in corporate conferences and exhibitions dragged down profits of TV and marketing group Ten Alps Communications for the year to 31 March 2003. Explaining the reasons for a... Read more

Huntsworth pays £1.3m for Haslimann Taylor

Huntsworth has paid a multiple of about 10 times post-tax profits (seven times adjusted pre-tax profits) to acquire public relations consultancy Haslimann Taylor. As sole owner, Patzi Haslimann will... Read more