CCG Sells Public Relations Unit

U.K. holding company Cordiant Communications Group last week confirmed the sale of its third “non-core asset,” Financial Dynamics International, for $42 million. The London-based public relations firm was sold to its management, backed by Advent International.

Canadian Holding Co. Lowers ’03 Forecast

Cossette Communications Group last week revised its earnings forecast to between 51 and 55 cents a share in fiscal 2003, down from March estimates of between 55 and 60 cents a share. The Quebec City holding company, parent of Tarsitano Creative and Cossette Post in New York, now expects organic growth to range from flat to 3 percent, rather than between 2 percent to 6 percent.