Interpublic agencies Initiative Media and Universal McCann have
confirmed their plans to create a joint media buying titan, as
exclusively revealed in Media Business (3 April).
The new negotiation unit, which will aggregate all of Interpublic's
planning and buying operations, will be called Magna Global, and will
launch on 1 September in the UK and US. Magna Global will be the largest
media buying operation on both sides of the Atlantic.
As reported in Media Business, Mick Perry, currently vice-chairman of
Universal McCann, will take the post of chairman at Magna Global UK.
Magna Global UK will concentrate initially on TV negotiations, but will
ultimately expand into all media.
John Dooner, chairman and CEO of Interpublic, said: "Magna will leverage
Interpublic's substantial buying clout for all of our clients, without
infringing on individual client or agency proprietary buying."
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