The report is based on the fact that both the founders of the agency, chairman David Suissa and president Bruce Miller, have sold some of the shares they acquired in the Interpublic Group of Companies when the holding company bought the agency in January 2000.
The share sell-off is being seen as a prelude to the agency's sale back to its management team, based on reports circulating in the Los Angeles advertising community that the shop is looking to regain its independence.
It follows Interpublic's appointment last week of Goldman Sachs to look at the possibilities for offloading its NFO WorldGroup market research division, which it bought for $500m (拢312m). It is likely that it will be sold, with WPP and Lord Hollick's United Business Media tipped as possible buyers. Interpublic is also reported to be looking to sell its 49% stake in the multicultural agency GlobalHue.
Suissa Miller is one of the biggest advertising agencies in southern California, and boasts clients such as Quaker Oats, Gallo Winery, divisions of McDonald's, low-cost retailer Target, and the wireless messaging service Skytel.
Interpublic is paying the price for an acquisition spree it made in 2000, with the company now seeing its credit rating only one level above "junk" status. Added to this is the fact it is now being formally investigated by the US financial watchdog the Securities & Exchange Commission over $181.3m in overstated revenues.
Suissa and Miller are both former brand managers for Procter & Gamble. The Suissa Miller agency is part of Interpublic's The Partnership group, which also includes Lowe & Partners Worldwide.
Miller has sold 108,098 shares worth $3.4m over the last two years, while Suissa filed on January 16 to sell 69,995 shares, worth around $958,000.
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