Interpublic Group’s Magna Global media negotiating arm is moving into China with offices in Hong Kong and Shanghai, its first outposts in the Asia Pacific region.
Launched last year [WAMN: 13-Jul-02], Magna negotiates media deals on behalf of IPG’s media networks, such as Universal McCann and Initiative Media. It leaves the actual planning and buying duties to the individual agencies.
The new offices will be headed by Gary Sin, managing director for Hong Kong and China, who will answer to a management council of senior executives from the region’s IPG media networks.
“Given that the outlook for 2003 is for a continuation of the challenging business environment globally, the launch of Magna comes at the right time to help maximize value for clients of the IPG advertising agencies in the imminent 2003 media negotiations,” commented Sin.
Further international expansion is planned for Magna next year, with offices due to open in the first half in France, Belgium, Switzerland, Italy, Scandinavia, the Netherlands, Mexico, Argentina, India, Thailand, Malaysia, Singapore and Japan.
Data sourced from: AdAgeGlobal.com; additional content by WARC staff