It’s remarkable that folk still hesitate when it comes to splashing out on PR

As Sir Alan Parker pockets £70m from selling just 10 per cent of his PR agency’s shares, Chris Blackhurst reflects on some of the big beasts of the business and banking world who now regret eschewing the often dismissed benefits of good PR

Sunk tycoon? Sir Alan Parker in 2007 (Getty )

On the end of the phone was a familiar voice. That of a well-known businessman, now fallen on difficult times.

He’s not broke; in fact he’s amassed a huge fortune. There’s no doubt, though, that his star has crashed. Sure, he’s got his money, but he’s bitter and angry. What he would not give to be swaggering and barking, and have people jumping to his command, again.

Coincidentally, he had barely rung off when news broke that Sir Alan Parker had sold 10 per cent of his Brunswick public relations agency and that the firm was valued at £500m. Parker pockets £70m from the deal.