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...Omnicom Group is a holding company, engaged in providing advertising, marketing and corporate communications services. The company's networks and agencies provide a range of services in the following fundamental disciplines: advertising, customer relationship management, public relations and healthcare. The company's Service offerings include, among others, advertising, branding, content marketing, corporate social responsibility consulting, crisis communications, custom publishing, data analytics, database management, digital/direct marketing, digital transformation, entertainment marketing, experiential marketing, field marketing, financial/corporate business-to-business advertising, and imaging.
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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