WPP's Sorrell sees more consolidation ahead

Fri Jan 29, 2010 5:33am EST
 
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DAVOS, Switzerland (Reuters) - Britain's WPP (WPP.L: Quote), the world's largest advertising agency, said on Friday more consolidation in the industry is likely.

"That's a very interesting question and I think the answer is yes," Martin Sorrell, chief executive of WPP, told Reuters Insider television when asked about advertising consolidation.

"I think there will be more consolidation in the market research industry."

Sorrell said he expected to see year-on-year growth in top line revenue in the second quarter, after a drop last year, but "only because things were so tough" in 2009.

"We are seeing 'less worse', as we like to say, in Western Europe," he said.

(Reporting by Clara Ferreira Marques and Krista Hughes)