Harte-Hanks Reported to be Acquisition Target

Share this article:
Advertising agency Young & Rubicam, New York, has held recent discussions to acquire direct marketing concern Harte-Hanks, San Antonio, the Wall Street Journal reported in its online edition yesterday. Y&R, which itself is reported to be an acquisition target of British advertising conglomerate WPP Group PLC, would pay about $2 billion for Harte-Hanks, a diversified provider of direct marketing services, according to the article.


Harte-Hanks CFO Jacques Kerrest said the company had no comment on the report.


Separately, Harte-Hanks yesterday reported first-quarter profits of $17.75 million, or 25 cents per share, an increase of more than 15 percent over year-ago first-quarter profits of $15.33 million, or 21 cents per share. Revenues increased about 20 percent, to $226.06 million, vs. $188.13 million a year ago.

This material may not be published, broadcast, rewritten or redistributed in any form without prior authorization. Your use of this website constitutes acceptance of Haymarket Media's Privacy Policy and Terms & Conditions