Merger and acquisition declined sharply in the fourth quarter in the advertising, marketing and digital media sectors, according to a report released by the investment banking firm Petsky Prunier.
The 140 transactions it tracked from the fourth quarter totaled $4.7 billion, reflecting a 42% decline in deal volume compared to the fourth quarter of 2007, and a 27% decline from the third quarter of 2008.
Two advertising and marketing agency services holding companies, WPP Group and Aegis Group accounted for the largest number of transactions, with 11 and 10 deals respectively.
One of WPP
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