Cordiant hangs on as Hyundai cuts shortlist in $160m review

NEW YORK - Hyundai Motor America has named a shortlist of five agencies for its $160m (£112m) creative account, which includes the incumbent agency the Cordiant Communications-owned Bates USA West, Irvine, California.

The full shortlist comprises Publicis, Seattle; Publicis & Hal Riney, San Francisco; FCB, Irvine and San Francisco; and the Richards Group in Dallas.



It was reported two weeks ago that Hyundai had drawn up a shortlist of eight to 10 agencies. Not making it through to the shortlist were agencies including Campbell Mithun in Minneapolis; the Martin Agency in Richmond; Hill Holliday, San Francisco; Grey Advertising, Los Angeles; and Wieden & Kennedy in Portland.



It had been reported earlier that incumbent Bates USA West -- which has handled the account since 1986, the year Hyundai launched in the US -- had not made the grade.



Should Bates lose the account, it will be another blow for Cordiant. Last month, its share price dropped when it was revealed that the Korean car group was shifting its $300m media account out of Bates and into Carat, owned by the Aegis Group.



Cordiant chairman Michael Bungey has in the past described the Hyundai business as a cornerstone of the group.



It is expected that a decision will be made by April 30.



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