$WPP

WPP has filed a motion to seal parts of Richard Foster's $100 million lawsuit, accusing him of including confidential information and 'muckraking allegations.' Foster's amended complaint includes claims about a Sony investigation into WPP's media buying practices, which WPP disputes. Foster's legal team plans to oppose the sealing bid. WPP denies the allegations and seeks to dismiss the case.

Global advertising groups report mixed Q2 results. Publicis and Omnicom raised full-year guidance due to organic growth, while WPP and dentsu reported declines. Havas saw modest growth. Companies note clients prefer integrated services over scale. Middle East conflict impacted results. AI is improving efficiency and margins. Key figures: Publicis +4.8% Q2 growth, Omnicom +6.1% Q2 core ops growth, WPP -4.7% H1 decline, dentsu +0.3% Q2 growth.

WPP ADR stock rose 3.9% to $27.39, nearing its 52-week high of $27.78. The gain follows its H1 2026 results, which beat expectations with a 4.7% decline in like-for-like net sales and an improved operating margin of 8.4%. Analysts from Citi and JPMorgan raised their price targets post-results. The broader U.S. market showed mixed performance, indicating WPP's rally was driven by company-specific and sector dynamics.

WPP is contesting a whistleblower lawsuit by Richard Foster, seeking to seal parts of the complaint. Meta is removing advertisers' ability to exclude specific ad placements. Paramount and California officials are in preliminary talks regarding the $110bn Warner Bros Discovery acquisition.

WPP is seeking to seal details of a Sony Pictures investigation referenced in a lawsuit by former executive Richard Foster, who alleges improper rebate handling. Foster claims WPP retained $350 million in discounts while returning $110 million to clients in China. WPP argues the investigation is confidential and Foster may have obtained it illegally. Foster seeks $100 million in damages.

WPP faces a $100M lawsuit from former employee Richard Foster, alleging wrongful termination and retaliation. Sony's internal audit claims WPP used shell brokers to retain $350M in client rebates in 2024, with GroupM executives involved in kickback schemes. The case highlights governance issues and a culture incentivizing non-transparent media trading.

WPP is suing former exec Richard Foster, alleging he leaked sensitive client data and trade secrets. Foster claims WPP retaliated after he raised concerns about alleged improper operations. WPP seeks to seal parts of Foster's complaint, citing confidential and proprietary information. Foster's legal team opposes the sealing, stating they will fight to keep the case details public.

Earnings call commentary from Publicis Groupe, Omnicom, WPP, Havas and dentsu says advertising pitches remain highly competitive despite industry consolidation, with pricing pressure and more integrated mandates combining media, creative, data, tech and AI. Publicis reported AI-powered marketing services at 87% of net revenue, up 6.5% organically in Q2. Omnicom cited a “brutal” new environment after acquiring IPG.

Waymo, Alphabet’s autonomous driving unit, appointed WPP Media as its media agency of record for North America and EMEA. WPP Media will handle media strategy, planning and buying as Waymo prepares international expansion. Terms were not disclosed, but COMvergence estimates US and UK media spend at about $120 million. Waymo cited its recent US World Cup campaign and global scaling plans.

A new filing in Richard Foster’s lawsuit against WPP alleges Sony investigated WPP’s media operations and concluded WPP improperly withheld client rebates. The filing says Sony presented a 2025 analysis calling the practice a “global crime scheme,” citing slides with about $110 million returned to clients in China 2024 and $350 million kept for later use. WPP denies wrongdoing and seeks dismissal.