Interpublic Group’s media network Initiative Media Worldwide is set to pick up the buying duties for network FCB Worldwide following the acquisition of the latter’s parent True North by IPG.
The move, which includes the absorption of FCB’s sibling agency TN Media, will hand Initiative an extra $5 billion in billings to make it America’s biggest media buyer, with US billings of $10bn overtaking the $8bn of current leader MindShare.
The plan, titled ‘Initiative at FCB’, is to introduce in-house buying teams at the former TN network, expanding on the recent ‘Initiative at Deutsch’ scheme whereby the media shop handled national broadcast buying for Deutsch. FCB will retain strategic media planning duties.
The same model will also be employed at The Partnership, IPG’s new network [WAMN: 30-May-01], whose member agencies will forge similar relationships with Initiative. Buying duties for Interpublic’s other network McCann-Erickson World Group, worth $5.8bn in the US, will remain at Universal McCann.
News source: Adweek.com