IPG Braces for Board Meeting

Interpublic Group’s quest to sell NFO WorldGroup is down to three bidders, the holding company’s search for a COO is quietly progressing and its board of directors will hear presentations from global agency chiefs this week.

What’s more, IPG is preparing to report its fourth-quarter and year-end results for 2002, possibly next week. On top of all that, IPG CEO John Dooner is said to be stressing the need for across-the-board belt-tightening.

McCann-Erickson, for example, has been told to slice some $10 million from its North American budget “immediately,” said a source.