Interpublic Completes Acquisition of IPR, Parent of Shandwick and Golin/Harris
October 7, 1998 at 12:00 AM EDT
New York, October 7, 1998 (NYSE:IPG) -- The Interpublic Group of Companies, Inc.
(IPG) reported today that it has completed its acquisition of International
Public Relations, plc ("IPR"), the parent company of the Shandwick and
Golin/Harris public relations networks.
Together with its existing Weber Public Relations Worldwide network, the acquisition of Shandwick and Golin/Harris places Interpublic in the top tier of global public relations capabilities. Shandwick, Golin/Harris and Weber will continue to be led by their current management teams and will operate as autonomous, independent organizations.
Interpublic's estimated 1998 public relations fees will exceed $300 million, of which approximately 70% is U.S. based.
According to Philip H. Geier, Jr., chairman and chief executive officer of IPG, "With the acquisition of IPR, Interpublic is continuing its successful growth strategy by adding strategic communications practices, such as public relations. As a leading player in this industry, we can now offer our agencies' clients additional critical resources to assist in managing their corporate reputation."
Commenting on the acquisition, Lord Chadlington, chairman of IPR, stated, "This transaction provides great opportunity for clients and staff alike. We will now build a unique place in the public relations industry worldwide."
The Interpublic Group of Companies is one of the largest organizations of advertising and marketing communications companies in the world. The Group employs more than 28,000 people in 120 countries worldwide. IPG's primary holdings include three wholly-owned global advertising agency networks, McCann-Erickson WorldGroup, Ammirati Puris Lintas and The Lowe Group, as well as four specialized communications services units, Western International Media, DraftWorldwide, The Allied Communications Group, Octagon, and other related companies.
Together with its existing Weber Public Relations Worldwide network, the acquisition of Shandwick and Golin/Harris places Interpublic in the top tier of global public relations capabilities. Shandwick, Golin/Harris and Weber will continue to be led by their current management teams and will operate as autonomous, independent organizations.
Interpublic's estimated 1998 public relations fees will exceed $300 million, of which approximately 70% is U.S. based.
According to Philip H. Geier, Jr., chairman and chief executive officer of IPG, "With the acquisition of IPR, Interpublic is continuing its successful growth strategy by adding strategic communications practices, such as public relations. As a leading player in this industry, we can now offer our agencies' clients additional critical resources to assist in managing their corporate reputation."
Commenting on the acquisition, Lord Chadlington, chairman of IPR, stated, "This transaction provides great opportunity for clients and staff alike. We will now build a unique place in the public relations industry worldwide."
The Interpublic Group of Companies is one of the largest organizations of advertising and marketing communications companies in the world. The Group employs more than 28,000 people in 120 countries worldwide. IPG's primary holdings include three wholly-owned global advertising agency networks, McCann-Erickson WorldGroup, Ammirati Puris Lintas and The Lowe Group, as well as four specialized communications services units, Western International Media, DraftWorldwide, The Allied Communications Group, Octagon, and other related companies.
| CONTACT: | IPG Eugene P. Beard (212) 399-8053 IPR Lord Chadlington (44) 171 408-2232 |