• March 1, 2004

Grey Global Group Inc., the parent company of planning/buying shop MediaCom, reported stronger results in the fourth quarter and for the full year. The New York-based holding company said Friday that revenues rose 9.5 percent in the fourth quarter, from $333.6 million in the three-month period in 2002 to $365.1 million a year later. Full-year revenues also increased, from $1.1 billion in 2002 to $1.3 billion in 2003. Grey said the quarterly and full-year growth was attributed to stepped-up business in the company's North American operations. Net income rose 54.2 percent in the quarter to $14.7 million/$10.51 a share, compared to $9.5 million/$6.27 a share a year earlier. Full-year net income was $29.1 million/$20.03 a share, compared to $18.2 million/$12.08 a share in 2002.