OMC, IPG 10-K Filings A Study in Contrasts

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It’s annual report season again, and last week the U.S.’s two biggest marketing-communications players filed 10-K reports with the Securities and Exchange Commission that outline their financial conditions in 2003 and the factors impacting their operations.

Interpublic Group of Cos. registered one of the industry’s worst performances, while Omnicom tallied one of the best. IPG, in the process of restructuring, revealed juicy details of a business in the throes of reinvention. Omnicom, which faced its own PR challenges following adverse publicity concerning unfounded accounting discrepancies in 2002, revealed more mundane information about a business resilient in the face of those challenges and the recession.

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