WPP reported weaker Q2 performance in its PR business. The company cited a dip in its financial PR businesses in the UK and Germany. Revenue in the PR division — which includes BCW, Hill+Knowlton Strategies, Finsbury and Buchanan — declined 2.6 % on a like-for-like basis.
Cision reported that Q2 revenue increased 1.6% year over year to $190.5 million. However, the company reported a 20.8% decline in operating income to $17.6 million. Its net loss for the quarter steepened to $7.8 million from $6.6 million.
Axios reports that billionaire New York real estate developer Stephen Ross was unsure about holding a fundraiser for President Trump after news of the event prompted threats of boycotts against Equinox and SoulCycle. Both brands are owned by a company Ross chairs. Trump supporters involved in the event reportedly convinced him to stay the course, saying "Stay strong, it's not going to be that bad. Not that many people are going to boycott the gym."
Facebook wants to license news articles from publishers to use them on its mobile app, the New York Times reports. The publishers, including the New York Times, The Washington Post and Dow Jones, as well as others, could make millions from the initiative.
China paid newspapers in Taiwan for positive coverage and in turn, the papers wrote "gushing" stories about a Chinese government program to attract Taiwanese entrepreneurs to the mainland. Reuters reports that the Chinese government paid five Taiwan media groups for the coverage in an attempt to improve China’s image in Taiwanese media and promote its "reunification" agenda.