Interpublic is still facing hard times, as the struggling holding company is expected to lose part of its considerable share of Johnson & Johnson's estimated $3 billion media-buying account when the
results of J&J's agency review are announced. This blow would come after two high-profile losses, and raises questions about Interpublic's ability to continue a turnaround and meet its financial
goals for next year.
The company suffered a string of account losses in 2005 but has since been coming back by winning some new ones, including K-Mart and Saturn. But it stands to lose
an estimated $40 to $50 million in revenue if J&J departs. That is far from a fatal loss -- but "some of this is the psychological importance of keeping business in the middle of turnaround," says one
Interpublic insider.
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