The Walt Disney Company has reportedly launched an “exploratory” review of its $750 million media planning and buying duties, handled for fifteen years by Initiative Media North America in Los Angeles.
The search, say insiders, has been prompted by current economic frailty and the group’s poor financial performance. Disney has seen its stock fall 40% since the start of the year to a six-year low.
Included in the review are all Disney’s movie, show business and home video duties. Several shops were contacted this week, say the informants, with presentations of credentials due next week.
News source: Adweek.com