|
|
Article: Adworld has new king in Sir Martin Sorrell; WPP passes previous leader Omnicom, but the win comes at a cost.(News)
- Article from:
- Advertising Age
- Article date:
- March 9, 2009
- Author:
CopyrightCOPYRIGHT 2009 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: RUPAL PAREKH
There's officially a new world order in Adland. WPP, the British ad giant led by Martin Sorrell, last week moved ahead of U.S.-based Omnicom Group as the world's largest owner of agencies based on reported revenue. But exactly what the total cost will be for Mr. Sorrell, who has racked up the largest debt load in his sector in his quest to become the biggest player, remains unclear.
The parent of global ad networks such as Ogilvy & Mather and JWT and other marketing, media and PR companies such as Wunderman, MindShare and Burson-Marsteller posted $13.6 billion in revenue for 2008. It managed to squeeze past Omnicom-which reported ...