Freud looking for independence

CORPORATE COMMS NEWS BITE: Matthew Freud is reportedly looking to buy his Freud Communications PR agency out of the Publicis Group. The French advertising and communications giant has had a 50.1% stake in the London-based PR company for five years now. According to The Guardian Freud is in talks with Publicis chiefs about buying them out of his company, though there is currently a disagreement as to what their stake is worth.

A source told the paper: “Everyone agrees it is a good idea, I think it will end up being done although there is some way to go yet. Both sides have found it difficult at times and he has done this before, sell it high and try and buy it back cheap”.

As that there source alludes, it’s not the first time Freud has declared independence from a big group owner. In 1994 Abbott Mead Vickers BBDO bought the agency, but Freud bought it back in 2001.

Posted Thursday December 2 2010 by Chris Cooke