Grey Global Net Profit up 18.6% in Q1

Grey Global Group last week said first-quarter net income rose 18.6 percent to $5.1 million on a 4.2 percent increase in revenue to $297.6 million. Diluted earnings per share climbed 6.8 percent to $3.12.

IPG Signs NFO Deal With Taylor Nelson Sofres

IPG has signed a definitive agreement to sell its NFO WorldGroup research unit to Taylor Nelson Sofres for $425 million. TNS will pay $400 million in cash and $25 million in shares. IPG will receive an additional $10 million in cash, subject to the appreciation of the market value of the TNS shares. The New York-based holding company expects an accounting gain of about $100 million.