News Brief
Interpublic Drives Out Of U.K. Motor Sports
Apr 20, 2004, 12:00 AM
Interpublic Group Monday said it would get out of the British motor sports racing business after the British Grand Prix in July. The agency holding company, whose finances were hurt by the weak performance of its sports marketing enterprises over the past several years, said it would take a $93 million charge in the second quarter of 2004 related to its termination of a contract with the Formula One Administration Ltd. Over rights to British Grand Prix.
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