Hedge fund buys 6.7% of Interpublic, will press for sale

07/24/2014 | New York Times (tiered subscription model), The

Paul Singer's Elliott Management hedge fund has acquired a 6.7% stake in Interpublic and will ask the company to sell itself, according to this report. Consolidation among media companies and increasing power held by digital platforms such as Facebook and Google are the main reasons Elliott is pushing for a sale to another holding group such as Publicis, WPP or Dentsu.

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New York Times (tiered subscription model), The

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