Oz Ad Chief Forecasts Casualties As Market Slows

30 April 2004

Robert Morgan, chairman of Clemenger Communications is predicting a New Year fall-out in Australia’s media sector.

Morgan, who heads the country’s biggest marketing services group, feels the currently bullish market could soften. “We’re quite cautious about 2005,” he said.

His forecasts preceded the public listing of diversified communications services company, the Photon Group, backed by Reg Grundy’s RG Capital.

Group Chairman Tim Hughes, dismissed Morgan’s claims. “I don’t see a slowdown for any of the businesses we’re involved with.”

Data sourced from: Sydney Morning Herald; additional content by WARC staff