Hedge Fund Investment In Interpublic Fans Flames Of Sale Rumors

Activist hedge fund Elliott Management has taken a 6.7% stake worth about $570 million in Interpublic Group, in what could be a precursor to a sale. The $24 billion hedge fund, run by Paul Singer, made a regulatory filing on Thursday indicating that IPG's shares "are undervalued and represent an attractive investment opportunity." The firm said it wants to "engage in a constructive dialogue" with the company's board of directors. A source familiar with Elliott's stake in Interpublic said it is gearing up to push the company to the auction block with hopes of attracting IPG's larger competitors as buyers. Pivotal Research Group Analyst Brian Wieser, as do many others, believes Japan's Dentsu is the likely buyer.

Right in step with the ad industry's penchant for inventing new buzzwords and job titles, CP+B has crowned account management staffer David Corns, VP director of product & brand invention. It's part of the agency's effort to grow its product innovation group headed by EVP Executive Director of Product Innovation Neil Riddell. All of this is part of a larger industry trend -- agencies getting into the business of developing products rather than just developing ad campaigns to help sell products. Which, itself, is an acknowledgement of an even bigger trend; the fact that most advertising has become pointless and agencies best do something (anything) to keep themselves afloat.

eBay has finally decided who it will work with to update its image, an effort the online auction giant began this spring. eBay has chosen WPP's MediaCom for media and Omnicom's Goodby Silverstein & Partners for creative. Of the selection, an eBay spokeswoman said: "As our brand evolves, we're constantly looking for new ways to inspire and engage our buyers and sellers around the world. We have recently engaged Goodby Silverstein & Partners and Mediacom as one of our agency partners to help us explore how to continue telling the story of eBay."

Netflix is looking to do big things in Europe. After having worked with Fallon since last September for work in the UK, the brand is gearing up for expansion into Germany, France, Austria, Belgium and Luxembourg this fall. Netflix, which just hired former Starbucks VP of Marketing Jenny Dennee McCabe as director of marketing for Europe, is in discussions with several un-named agencies for this pan-European efforts.
Recommend (2) Print RSS
  • RPA Is Doing Movember 80's Style

    So GSD&M got in on the whole Movember thing by...launching a Spanish telenovela. Yeah, I know. Read about that here. Not to be left out, RPA was inspired by some 80s-themed nostalgia and decided to go that route for their own agency's participation in the Movember agency challenge. Yeah, it's ...
  • TDA_Boulder Agency Is Putting Applicants to the Truest of Tests: Two Days in Vegas at the Agency's Holiday Party

    Ad agencies like to make a big deal out of things. And they like to go to Vegas. Looking to hire an art director, the agency created a police-themed application, complete with fingerprinting document, which read, "There's only so much you can learn from an applicant over the course of ...
  • Sid Lee Opens LA Office In Cient Movember Foundation's Office Space

    Well, here's a feelgood story. Sid Lee is opening a Los Angeles office in the headquarters of men's health charity Movember Foundation. The agency, which already does pro bono work for the charity, will further help the cause by moving in and paying rent. The move follows the opening of ...
  • McKinney CCO Oversimplifies, Publicis CEO Over-Complicates And Saatchi & Saatchi China Thinks Its Employees Are Wasteful

    Hmm. McKinney Chief Creative Officer Jonathon Cude said: "Only two things matter: The work and the people who do it. It's that simple and it's that hard." But Publicis Worldwide CEO Arthur Sadoun says: “The only thing that really matters today for us is to understand how technology is impacting the business ...
  • This Guy Argues Doing Crowdsource Work Could Land You Your Dream Agency Job

    Asad Khan, Founder and CEO of creative crowdsourcing platform CopyShoppy, thinks crowdsourcing is awesome. And why wouldn't he? After all, that's what his company does. Well, he's out with a five-point argument entitled 5 Myths About Crowdsourcing Creative Work that explains why there's nothing wrong with the advertising community embracing ...
  • Michael Roth: If It Were Up to Martin Sorrell, There Would be One Holding Company

    So Dentsu would like to make it known that it's not looking to make acquisitions in the digital space. Hmm. Of the mindset, Dentsu Aegis Network Chairman Tim Andree, speaking at the annual Morgan Stanley Technology, Media and Telecoms Conference in Barcelona, said: "Acquisitions are not a strategy in and ...
  • Are Ad Agency Employees the Biggest "Empty Labor" Slackers?

    Well, well, well. Is an ad agency one of the places where workers waste the most amount of time engaging in "empty labor"? In a new book, Lund University Sociologist Roland Paulsen examines the notion of empty labor interviewing people from various industries. Paulsen found, on average, that employees across ...
  • President Obama Surprises Australian Ad Man By Using His 29-Year-Old Tagline In Speech

    Australian ad man Tim Bond is happy. Really, really happy. In 1985 Bond was working for D'Arcy MacManus and Masius and was asked to come up with a tagline for Queensland. He thought about the task for ten weeks. And out came "Beautiful one day, perfect the next." It became ...
  • This Creative Brief Was Delivered With Oculus Rift and A Treadmill

    Talk about an all-inclusive, complete brief! As part of its annual Creative Press Challenge, Dutch newspaper Persgroep briefed 110 creatives on the Iranian refugee situation for the charity group UAF by immersing them in the very issue they would be assigned to tackle. How? By using the virtual reality technology ...
  • Leo Burnett Employees Do Shots And Slap Each Other In The Face To Improve Creativity

    What's an ad agency to do when it's had enough bad ideas and it simply can't take it any longer? It invites their employees to do shots and slap each other in the face, of course! As part of its participation in Strategy Magazine's Agency of the Year event in ...
>> MAD Archives