Publicis Takes $1.5 Billion Charge, Cites Digital Properties

Via MediaPost


The gist: Publicis took a $1.5 billion charge in 2016, citing its digital properties.

More information: According to MediaPost, Publicis “reported it was taking a roughly $1.5 billion impairment charge for 2016, mostly against Publicis.Sapient, the division the firm created to house its key digital properties,” namely Razorfish.

“The weakest link in that group of assets is Razorfish, which the company described as having ‘serious issues’ after reporting ‘negative growth’ for the year in double digits,” reported MediaPost. “Publicis Groupe CEO Maurice Lévy said that the underperformance is being analyzed thoroughly.”

Read it all here.