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Today's news: Inside ad agency J. Walter Thompson's rise and fall, which digital media companies could get acquired next, and Fox News' Trump backlash.

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The rise and fall of J. Walter Thompson, the world's oldest advertising agency

Patrick Coffee looked at J. Walter Thompson, the world's oldest ad agency whose ad revenue has sharply declined.
JWT suffered from a faltering digital transformation, financial pressure at the holding company level, and a lawsuit accusing its former CEO of sexism and racism that scared potential clients and hires away.
The agency stands as a cautionary tale and reflection of an industry shaken by changes in consumer behavior and the rise of Facebook and Google.

Read the full story here.

c/o The Skimm

10 digital media companies that are hot acquisition targets, including Patch and TheSkimm

BuzzFeed's acquisition of HuffPost has sparked speculation about which other digital media companies could be acquired next, reports Lara O'Reilly.
Experts expect dealflow to be plentiful in the months ahead, especially as SPACs and private equity firms circle the digital media sector.
We asked eight digital media experts to predict which digital media companies could get acquired in the coming months.