GM announced earlier this week that it owes Publicis Groupe $25 million and its media network Starcom MediaVest $121 million in unpaid media bills. But Publicis said that it is liable to pay the lower figure principle of sequential liability, which means that it can only be liable for payment of bills for which it has already received payment from GM.
The Week: Advertising news - Publicis in EUR55m GM loss
Publicis Groupe has revealed that its maximum exposure to losses from the bankruptcy of General Motors amounts to EUR55 million.
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