OMG! GM Owes Publicis, Interpublic a Ton of Cash

By Matt Van Hoven 

GM is filing for bankruptcy today and guess what? They owe a ton of money to the ad industry and are probably responsible for tons of Detroit ad folk losing their jobs. Way to go, gas-guzzlers. Maybe the Hummer brand should have seemed like a bad idea sooner?

Here’s B|Net’s breakdown;
&#151 Starcom MediaVest Group: $121 million
&#151 Publicis Groupe: $25 million.
&#151 Interpublic: $16 million
&#151 McCann Erickson: $4.6 million
&#151 Total: $167 million

As Tribble notes, Publicis alone is owed about $150 million between Medivest’s $121 million and PG’s $25 million. Ouch. Check out B|Net for a full PDF of the moneys owed.

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