DOJ Launches Probe Into Potential Bid Rigging for Ad Production; No Change to Moats or FVEs
The U.S. Department of Justice has launched an investigation into the allegation that the major advertising agencies are rigging the bidding procedures for the production of commercials to favor in-house production groups, according to a Wall Street Journal article. The probe appears to be in the preliminary stage but would most likely cover all major agency holding companies including WPP, Omnicom, Publicis, and Interpublic. We don’t expect the investigation to change our long-term theses for t...Interpublic Group of Companies is an advertising and marketing services company. The company's segment include: Integrated Agency Networks (IAN) and Constituency Management Group (CMG). Within IAN, the company's agencies provide an array of communications and marketing services, each providing a range of solutions for its clients. In addition, the company's domestic integrated agencies provide a range of advertising, marketing communications services and/or marketing services and partner with its operating divisions as needed. CMG provides clients with services, including public relations, meeting and event production, sports and entertainment marketing, corporate and brand identity, and marketing consulting.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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