Merger between APL and Lowe imminent
Senior sources are hinting that Interpublic is on the brink of merging its two agency networks Ammirati Puris Lintas and the Lowe Group
Interpublic was on the brink of merging its two agency networks Ammirati Puris Lintas and the Lowe Group as Marketing Week went to press.
A highly-placed source at Lowe & Partners in New York says: “It’s important to stay on top of it. I think it’s important to watch for an announcement.”
Top executives at Interpublic held a board meeting this week where the merger was thought to be under discussion.
It is expected that Frank Lowe, chairman and founder of the Lowe Group, will take a leading position in the merged advertising giant.
But Phil Geier, chairman and chief executive of IPG, said: “The only thing that will come out tomorrow {Wednesday} will be the earnings – and you can quote me.” IPG was to report its third-quarter earnings this week.
Martin Puris, aged 60, one of the founders of Ammirati Puris Lintas Worldwide, is understood to be close to leaving the agency he has lead for 25 years (MW last week).
