CCG Initiative Draws Criticism

Cordiant Communications Group’s first-half revenue decline of nearly 10 percent revealed how fast its financial situation is deteriorating, even before the loss of Bates Advertising’s Hyundai and Wendy’s accounts impact the company’s bottom line.

Given that, it seems increasingly certain that CCG will have to look at selling off assets to offset revenue losses. So Friday’s announcement that the debt-strapped company is combining four key units into a single entity raised more questions than it answered.

“An orderly disposal of assets is the smartest way out for them,” remarked one executive.