Wednesday, September 4, 2013

Martin Sorrell to Analysts on Publicis Omnicom Merger:...

Martin Sorrell to Analysts on Publicis Omnicom Merger: ‘Where’s the Beef?’

At WPP’s first-half earnings presentation to analysts in London today, CEO Martin Sorrell dismissed the big data capability that a merged Publicis Groupe and Omnicom Group could bring clients. He also warned of potential regulatory trouble, and generally derided his rivals’ bid to join forces — despite the fact that in terms of revenue, it would knock WPP from its position as the world’s number one communications group.

At the same meeting, WPP announced that it was optimistic about its own performance this year, raising its revenue forecast to more than 3% organic growth for the full year. Net profit for the first half increased slightly to $436 million.

Whilst addressing the Publicis Omnicom merger, Mr. Sorrell referred to the new entity as “POG,” poking some fun at the name. WPP charts represented “POG” with what he described as “a sludgy brown color,” which Mr. Sorrell gleefully explained was what you get when you mix purple and orange [the corporate colors of Publicis and Omnicom].

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