Omnicom PR revenue up 1.2% in Q1
Omnicom Group reported Tuesday morning that its PR agencies achieved 1.2% organic revenue growth in the first quarter, compared with Q1 2013. Overall revenue was up 4.3% organically in the period to $3.5 billion, including a 4.8% increase in North America. Omnicom owns and operates FleishmanHillard, Porter Novelli, and Ketchum, among others.
Interpublic unit with PR firms sees 5.7% Q1 revenue growth
Interpublic Group’s Constituency Management Group, which contains PR firms Weber Shandwick, GolinHarris, and DeVries, among others, reported a 5.7% year-over-year organic revenue increase in Q1 to $321.8 million. Overall revenue was up 6.6% organically at the holding company to $1.6 billion.
New Novartis emerges from flurry of pharma deals
Novartis has fundamentally reshaped itself through a burst of overnight deals. The drugmaker agreed to buy GlaxoSmithKline’s cancer-drug unit for $16 billion, but sold Glaxo its vaccines division for more than $7 billion. For $5.4 billion, it also sold its animal-health division to Eli Lilly & Co. Meanwhile, activist investor William Ackman joined forces with Valent Pharmaceuticals to propose a $50 billion takeover of wrinkle-treatment maker Allergan. The cluster of M&A deals lifted European shares in early trading.
Ford hits the gas on CEO succession
Ford chief executive Alan Mulally will step down from his role earlier than expected, even as soon as this July, after a seven-year stint at the automaker. COO Mark Fields, who was promoted to the number two job at Ford in 2012, will replace him.
Weibo chair second guesses IPO price
Charles Chao, the chairman of Chinese "Twitter-like" service Weibo, said this morning on CNBC that shares of his company were priced too low last Thursday at the time of its IPO. Shares are up 33% since Weibo debuted on the Nasdaq stock exchange.