Interpublic bulking up in Brazil with CUBOCC deal

Brazil Carnival

Interpublic, home to agencies like McCann Worldgroup and DraftFCB, has acquired an shop in Sao Paulo, expanding its footprint in Brazil. Lowe Worldwide and McCann Erickson, among other IPG agencies, already have offices in Brazil, which, of course, is considered a hotspot for advertising and media growth.

The ad and marketing services agency, CUBOCC, concentrates on new media and digital marketing, which, in case you’ve been asleep for a very long time, is also considered a hotspot.

IPG didn’t release financial details, but said CUBOCC would stay a stand-along agency. Roberto Martini will continue to run the shop, which has a staff of about 106 and was started in 2004.

(Photo: Reuters)

How bad is local advertising? Ask Fox

We’re guessing Rupert Murdoch isn’t smiling quite so much right now. Not after News Corp reported a larger-than-expected drop in quarterly profit and cut its full year outlook.

The problem? In case you haven’t heard, advertising, particularly at the local level, is in terrible shape. Any company with local TV stations — and News Corp is one of them — is hurting right now.

Indeed,  Fox Television Stations’ first-quarter operating income fell 48 percent from the same period last year. Overall, News Corp profit fell 30 percent.