IPG’s Shandwick Buy Creates New PR Giant

Interpublic Group’s acquisition of the British parent of Shandwick and Golin/Harris will create the world’s third-largest public relations agency network behind Omnicom and Young & Rubicam.
IPG last week offered $170 million for the two shops owned by International Public Relations in London. IPR chairman and Shandwick founder Peter Chadlington will head the new entity.
A new board representing both shops and IPG-owned Weber Public Relations Worldwide in Cambridge, Mass., will oversee policy issues, said IPG chairman Phil Geier. The deal should close by October.
IPG’s units netted $266 million in fees; Omnicom’s had $378 million and Y&R’s $294 million. IPR has been looking for a buyer for about a year [Adweek, May 4]. –Judy Warne