SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, DC 20549


                ----------------------------------

                             FORM 8-K

               -----------------------------------


                          CURRENT REPORT
              PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934


Date of report (Date of earliest event reported): August 30, 1997

         The Interpublic Group of Companies, Inc.                
        (Exact Name of Registrant as Specified in Charter)

  Delaware                    1-6686              13-1024020
(State or other             (Commission         (IRS Employer
 Jurisdiction               File Number)        Identification
of incorporation)                                   Number)


   1271 Avenue of the Americas, New York, New York        10020
  (Address of Principal Executive Offices)             (Zip Code)


Registrant's telephone number, including area code (212) 399-8000


________________________________________________________________
  (Former Name or Former Address, if Changed Since Last Report)

PAGE
<PAGE>

Item 9.   Sales of Equity Securities Pursuant to Regulation S.

          On August 30, 1997 The Interpublic Group of Companies, Inc.
("Interpublic") sold 176,819 shares of its common stock, par
value $.10 (the "Shares"), to six individuals (the "Purchasers")
in exchange for 5,245,000 Pounds Sterling in value of Ordinary
Shares, 1 Pound Sterling par value, of Davies/Baron Limited, a
United Kingdom company ("D/B").

          As a result of this, Interpublic has acquired 100% of
the capital stock of D/B.

      No underwriter or placement agent was used in connection
with the sale of the Shares.  

     The transaction was effected in an "offshore transaction"
and in accordance with the "offering restrictions" and "no
directed selling efforts" requirements of Rule 903(c)(2) of
Regulation S under the Securities Act of 1933.


                            SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

                                   THE INTERPUBLIC GROUP OF
                                   COMPANIES, INC.



                                                                 
Date: September 8, 1997                 By:    NICHOLAS J. CAMERA
                                          Vice President,
                                          General Counsel and
                                          Secretary


<PAGE>
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{"company-data": {"conformed-name": "INTERPUBLIC GROUP OF COMPANIES INC", "cik": "0000051644", "assigned-sic": "7311", "irs-number": "131024020", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "file-number": "001-06686", "film-number": "97677017"}, "business-address": {"street1": "1271 AVE OF THE AMERICAS", "city": "NEW YORK", "state": "NY", "zip": "10020", "phone": "2123998000"}, "mail-address": {"street1": "750 THIRD AVENUE", "street2": "4TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10017"}, "former-company": {"former-conformed-name": "MCCANN ERICKSON INC", "date-changed": "19710715"}}
SECURITIES AND EXCHANGE COMMISSION
                       WASHINGTON, DC 20549

                ----------------------------------

                             FORM 8-K

               -----------------------------------

                          CURRENT REPORT
              PURSUANT TO SECTION 13 OR 15(d) OF THE
                 SECURITIES EXCHANGE ACT OF 1934

Date of report (Date of earliest event reported): August 30, 1997

         The Interpublic Group of Companies, Inc.                
        (Exact Name of Registrant as Specified in Charter)

  Delaware                    1-6686              13-1024020
(State or other             (Commission         (IRS Employer
 Jurisdiction               File Number)        Identification
of incorporation)                                   Number)

   1271 Avenue of the Americas, New York, New York        10020
  (Address of Principal Executive Offices)             (Zip Code)

Registrant's telephone number, including area code (212) 399-8000

________________________________________________________________
  (Former Name or Former Address, if Changed Since Last Report)

PAGE
Item 9.   Sales of Equity Securities Pursuant to Regulation S.

          On August 30, 1997 The Interpublic Group of Companies, Inc.
("Interpublic") sold 176,819 shares of its common stock, par
value $.10 (the "Shares"), to six individuals (the "Purchasers")
in exchange for 5,245,000 Pounds Sterling in value of Ordinary
Shares, 1 Pound Sterling par value, of Davies/Baron Limited, a
United Kingdom company ("D/B").

          As a result of this, Interpublic has acquired 100% of
the capital stock of D/B.

      No underwriter or placement agent was used in connection
with the sale of the Shares.  

     The transaction was effected in an "offshore transaction"
and in accordance with the "offering restrictions" and "no
directed selling efforts" requirements of Rule 903(c)(2) of
Regulation S under the Securities Act of 1933.

                            SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed
on its behalf by the undersigned hereunto duly authorized.

                                   THE INTERPUBLIC GROUP OF
                                   COMPANIES, INC.

                                                                 
Date: September 8, 1997                 By:    NICHOLAS J. CAMERA
                                          Vice President,
                                          General Counsel and
                                          Secretary