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Posts Tagged ‘Financial Relations Board’

PR Vet Ted Pincus Dies

Ted Pincus, PR vet and Chicago Sun-Times columnist, has died at the age of 78. Pincus suffered from multiple myeloma, a cancer afflicting the plasma cells in the bone marrow.

Pincus was founder of the Financial Relations Board, which he sold for $40 million in 2000 to True North Communications. He went on to become a managing partner at StevensGouldPincus, the M&A consultancy for the PR and ad industries. He has also served as a consultant for Weber Shandwick and Ruder Finn, a vice chairman at SMG, and other firms.

A memorial service was held for him today. He is survived by his sister, five children (including his son Mark, founder of Zynga), and 12 grandchildren.

[via Chicago Sun-Times, PRWeek]

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MWW Buys Itself Back from IPG

MWW Group has completed a buy-out from Interpublic Group. The buy-out, led by MWW founder and CEO Michael Kempner and other management members, is taking place a decade after MWW firm was first sold to IPG. The purchase also includes MWW’s financial and IR firm, Financial Relations Board.

Kempner told the New York Times that he “will be the majority shareholder in the newly independent MWW.”

“Minority stakes are owned by 10 to 15 senior managers of the agency” and others he would not identify, the story continues.

“We wish Michael and MWW the best,” IPG Constituent Management Group (CMG) CEO Harris Diamond told us. When asked about any new acquisitions, Diamond said, “We’re always doing acquisitions” but they’re not looking in the U.S., where the company’s presence is already strong. Rather, they’re focused “throughout the world and in different practice areas.”

Updated with comments from MWW’s Michael Kempner after the jump.

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