I think it's because the main shareholder wpp plc has recently...

I think it's because the main shareholder wpp plc has recently dropped in price because they failed to meet earnings and there is a lot of negative sentiment regarding reduced growth in ad spend globally and the impact of digital advertising on agency revenues. By my numbers it is trading below its intrinsic value based on current cash flows so the hardest question to answer is whether or not we are seeing a permanent decline in the advertising industry or whether this is a temporary adjustment to the change in advertising mix (and the related push for visible ROI on marketing spend) combined with low GDP growth (which correlates strongly with ad spend).