Freud locked in talks with Publicis over buying back control

Matthew Freud is locked in talks with Publicis over buying back control of his agency.

In talks: Matthew Freud
In talks: Matthew Freud

Publicis and Freud have held talks on separating, but there is significant disagreement over the value of the agency.
 
Freud sold a 50.1% stake of Freud Communications to Publicis five years ago. The FT suggested that he had become frustrated by the confines of working within the Publicis Group structure and that the deal had not triggered the level of international expansion for which Freud had hoped.
 
The agency declined to comment on the story this morning, but an insider said: 'It is fair to say that conversations about the future relationship of Freud and Publicis have taken place.'

A former colleague of Freud's said: 'Matthew doesn't need to be a part of a group, because their business doesn't come through the group, it comes organically. It would not surprise me if he buys it back in the next few months because Matthew will emotionally prefer it being his own agency and Maurice [Levy] will know he won't be able to replicate the business in other markets.'
 
Freud has a history of buying and selling his agency, having bought the agency back from Omnicom in 2001. Freud Communications was acquired by Abbott Mead Vickers in 1994, an independent UK advertising agency that was later itself bought by Omnicom.
 
Freud Communications topped the PRWeek league table of consumer agencies for 2010, with fee income of £22.5m in 2009 and 185 staff.
 
Earlier this year PRWeek named Freud as the most powerful figure working in the UK PR industry.

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus

Latest Articles

Careers: Leadership - A route to the boardroom
Sponsored feature

Careers: Leadership - A route to the boardroom

Senior communicators now need the knowledge and ability to take on a more central corporate role.

Max Clifford trial jury retires to consider indecent assault charges

Max Clifford trial jury retires to consider indecent assault charges

The jury in the trial of celebrity publicist Max Clifford has retired to consider verdicts on 11 charges of indecent assault after five weeks of proceedings.

Avoid being caught out on camera

Avoid being caught out on camera

Being caught on camera is a fact of life, so it is vital to ensure that organisations behave in the right way.