Always report the outcome of a search to all those involved. Once a search is initiated, it is important to report the outcome even if the search ends without an agency selection, is reconstituted or delayed beyond the initial deadline. If you choose to publicly announce the outcome of the search, work with your new agency to reach the press and other key stakeholders.
Keep in mind that any creative concepts presented during a search process are the property of the agency. If you decide following a search that you would like to use ideas or concepts presented, negotiate proper compensation with the agency that presented the ideas or concepts.