Mediaedge:cia and MindShare, the two global media networks run in parallel by WPP Group are to be merged within a new holding company, GroupM.
Although the two planning and buying operations will share resources as appropriate – especially when negotiating media upfronts – they will retain their discrete identities under the GroupM umbrella.
Brandishing the GroupM brolly as ceo is Irwin Gotlieb whose former position as worldwide ceo of MindShare is taken by the network’s chief operating officer Dominic Proctor. GroupM financial supremo is MindShare’s chief financial officer Rupert Day, who assumes this responsibility alongside his other duties.
Why the quasi-merger? “We need a mechanism that allows us to operate two business with a consolidated strategy to share resources for the benefit of our clients,” explains Gotlieb.
Joining Gotlieb, Proctor and Day on the GroupM board are Mainardo De Nardis and Charles Courtier, respective chief executives of Mediaedge:cia worldwide and North America; while from the MindShare camp chief strategy officer Nick Emery also joins the board, as does Mediaedge:cia chief financial officer Tom Handy.
Data sourced from: AdWeek.com; additional content by WARC staff