Huntsworth owned up immediately as one of the bidders although the other suitor, Chime Communications, took until lunchtime to acknowledge its involvement.
Dentsu, Japan's biggest publicly listed marketing group, today confirmed this Blog's earlier prediction (see Massive investment write-down expected to wipe out Dentsu profit) and the market's worst fears as it announced that it expects to have incurred a loss of £126m (¥20,453m) for the year ended March 31 2009.
At long last the Canadian-based marketing group MDC Partners that owns US agency Crispin Porter & Bogusky may be showing tentative signs of operating at a profit.
Having accumulated losses to date of $113m, of which $60m arose in 2006 and 2007 alone, the group reported a small profit last year -- but only after benefitting from a $13.3m currency gain (see Currency gains save MDC from yet another loss).
International digital marketing and technology group LBi International has reported a loss of €2.5m (£2.4m) for the first quarter of 2009 as revenues declined by 8.5% from the level achieved in the first quarter of 2008 and fell below those achieved in any quarter in the last two years.
This article was first published on brandrepublic.com