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WPP said to have begun sale process for PR arm
(Sharecast News) - WPP has reportedly begun a potential sale process for its public relations arms, which could pave the way for the advertising group's first major disposal under a dramatic structural overhaul set out by its new boss. According to The Times, advisors at Goldman Sachs are exploring strategic options for Burson on behalf of the advertising company, which could pave the way for an eventual sale of the communications agency.
It comes as Cindy Rose, who was appointed to lead a turnaround of the British advertising group in September, embarks on a plan to simplify WPP's operations and return the group to growth.
Its public relations operations suffered the worst decline in revenue last year, falling 6% on an underlying basis.
Burson was formed via the merger of BCW and Hill & Knowlton, WPP's two largest communications agencies, in 2024 and employs about 6,000 people globally.
The Times said a sale would mark a near-complete exit from PR for WPP, which sold its majority stake in FGS Global to private equity firm KKR, which valued the communications firm at £1.3bn.
At 1345 BST, the shares were up 5.1% at 257.03p.
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