In preparation for an ambitious expansion effort in the coming two years, New York-headquartered Grey Global Group has established a new worldwide holding company to house its MediaCom network.

Rebranded MediaCom Worldwide, Grey’s new division encompasses all existing MediaCom subsidiaries, such as internet ad unit Beyond Interactive.

In charge at the new operation is ceo Alec Gerster and Alexander Schmidt Vogel (chief operating officer), who move from their respective posts of chairman and vice-chairman at MediaCom. Replacements for the duo have not been announced.

News Source: CampaignLive (UK)