One of the largest slices of media planning and buying business in Europe -- estimated annual worth $700 million (€575.47m; £390.71m) -- has been placed under review by US car manufacturer General Motors.

The auto behemoth won't reveal whether its search will extend beyond its existing roster of three networks: Universal McCann, Initiative Media (both Interpublic properties) and Carat (part of Aegis Group) which handles the account in the continent's largest market, Germany.

According to GM: "[We are] targeting an increase in synergies to leverage the company's entire advertising media purchase across the region."

Heading the review is Zurich-based Jonathan Browning, GM's local vp of sales, marketing and aftersales, responsible for the company's European stable which includes Chevrolet, Opel, GM Daewoo, Saab and Vauxhall of the UK.

GM, along with Ford, is currently beset by a stateside production glut and plans a substantial cut in Q4 output [see later story, this issue].

Data sourced from:; additional content by WARC staff