NEW YORK: Interpublic Group stated in a recent SEC filing that it may break up the operating group Advanced Marketing Services (AMS), which runs its main PR holdings, including Weber Shandwick, Golin/Harris, and The MWW Group.
IPG said it would redistribute these holdings among the four remaining operating groups, after AMS is dissolved.
In the filing, IPG stated that it would likely scrap AMS after its widely anticipated sale of marketing research firm NFO WorldGroup, one of AMS' main components. IPG has been shopping NFO in hopes of raising quick cash to pay down its cumbersome debt.
The reorganization would be among the first major moves by new IPG CEO David Bell, who took the reins late last month.
The dissolution of AMS also raises questions about the future of WS founder Larry Weber, who has been chairman and CEO of AMS.
A Weber spokeswoman said he expected to remain involved in IPG, and WS particularly. IPG was unavailable for comment.