Posted on 22nd July 2009No Responses
Publicis Groupe ‘only owed’ $12.8 million from GM bankruptcy
Maybe now Publicis will be thrown off Creditwatch in light of the new reports. The amount that General Motors owes Publicis is far lower than initially stated, to the tune of less than 10% of what was initially mentioned in the media.
Publicis Groupe SA’s (OTC:PUBGY) damage from General Motors Corp.’s Chapter 11 filing won’t be as bad as
originally estimated. The Paris-based advertising agency now says it’s owed $12.8 million by GM following its bankruptcy. That’s a large decrease from numbers that floated around in June when GM said it owed Publicis and its media agency subsidiary Starcom MediaVest Group $148 million while the French company said at the time the number was closer to $78 million. TheDeal.Com is reporting
