NEW YORK: The Interpublic Group announced June 8 that it will buy back up to $250 million in debt this year, as well as $500 million of a total of $700 million in notes that are due in 2010 and 2011. IPG's purchase offer expires July 6, 2009.
First-quarter revenue decreased nearly 14% at the holding company's Constituency Management Group (CMG) division. The unit includes Weber Shandwick, GolinHarris, MWW Group, DeVries, and Carmichael Lunch Spong. The unit also includes non-PR agencies such as KRC Research and FutureBrand.