The entertainment group, owned by Rupert Murdoch's News Corporation empire, has an annual advertising spend of $1.1bn (£580m), with $750m of the company's spend in the US.
The account covers advertising for movies, home entertainment and programming from Twentieth Century Fox, Fox 2000 Pictures, Fox Searchlight Pictures, Fox Atomic, Fox Animation and Twentieth Century Fox International. Twentieth Century Fox movies include 'John Tucker Must Die' and 'My Super Ex-Girlfriend'.
Earlier this month, Fox announced annual operating income for the film division had risen 3.2% to $1.09bn, with the TV sectors rising 8.4% to $1.03bn and its cable network programming climbing 23% to $864m.
The advertiser has green-lighted the review, which is being handled by search consultancy Select Resources International. The auditing firm has called the action a "strategic move" to bring all the companies media into one shop by the end of this year. Roster networks will be asked to pitch for the global account.
In the US, WPP Group's MindShare handles Fox's TV and radio buying with Omnicom's Organic work on the company's internet media buying. In the UK, Starcom handles Fox's media account.
The review does not include the business handled by Allied, Fox's US national newspaper agency. MindShare is expected to participate in the review. It has not been confirmed whether Organic will participate.
Last week, News Corp announced it will sell Fox film and television content, including 'X-Men' and 'Prison Break', through websites owned by its internet arm IGN Entertainment.
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