Next Fifteen in 'early stage' of sale talks

LONDON: Next Fifteen Communications Group is in early talks with Huntsworth and Chime Communications about a possible sale of the London-based holding company. Next Fifteen confirmed the acquisition talks in a number of statements on its Web site.

LONDON: Next Fifteen Communications Group is in early talks with Huntsworth and Chime Communications about a possible sale of the London-based holding company. Next Fifteen confirmed the acquisition talks number of statements on its Web site.

The statement noted that the discussions with both the UK-based communications groups are "at a very early stage." The UK's Telegraph ran a story on the talks in yesterday's Sunday paper.

Next Fifteen agencies include Text 100, Bite Communications, OutCast Communications, Lexis PR, Redshift Research, Context Analytics, and 463 Communications.

Q1 revenues for Next Fifteen increased by 10% to $49.2 million in 2009, compared to $44.7 million in the like quarter in 2008.

Several of the company's agencies have reported layoffs in Q4 of 2008 and Q1 of 2009, including a 6% reduction at Bite Communications; a 20% reduction for OutCast Communications; and the loss of less than 15 employees at Text 100.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Register
Already registered?
Sign in

Would you like to post a comment?

Please Sign in or register.