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The agency Palmer Hargreaves, with a fee turnover of just over 11 million euros number 23 in the ranking of the owner agencies, gets new owners. The company, founded in 1983 near Birmingham, is now owned by German management led by CEO Jörn Langensiepen and the two managing directors Iris Heilmann and Susanne Hoffmann.
https://www.wuv.de/agenturen/management_buy_out_bei_palmer_hargreaves
The company will also reduce compensation by 20% for management board members. For stakeholders, Publicis will slash dividends by 50%, from 2.50 euros to 1.15 euros, and delay payments until the end of September.
Publicis Groupe Cuts CEO And Board Salaries, Slashes Dividends By 50%
Publicis has frozen all hiring and promotions and encouraged employees to take vacation time during the lockdown period. It will reevaluate third-party contracts to see what it can bring in-house. And it has implemented shorter workweeks in certain regions to reduce costs.
https://www.adexchanger.com/agencies/publicis-groupe-cuts-ceo-and-b...
We don’t know yet if we reached the bottom of the current downtrend. With more negative news, we might face a further drop in the following months.
But we have an efficient media market - it reacts to the available information.
On a macro level, it is the information about the crisis, and a micro level, it is the information on your own media business.
That’s why it is vital if and when you have the information to make decisions and react.
Like you, the media, the markets, and also investors take a rational view based on reliable data.
Use now the time, reflect, including adjusting your business and prepare now the narrative, the storyline for your business.
Be ready and be in the pole position when the crisis is over to restart your activities.