The Daily Mirror publisher has worked with ZenithOptimedia on its buying and planning for 15 years. The account also covers the group's other news titles the Sunday Mirror and The People.
A shortlist is being drawn up by the group and ZenithOptimedia will be invited to re-pitch. A result will be announced by the end of the year.
The review does not include Trinity Mirror's Scottish newspapers, The Daily Record and Sunday Mail, or its regional papers. It is being led by Lorraine Fraser, the newly-appointed marketing director for the national titles.
According to The Nielsen Company, in the year to 31 August, Mirror Group Newspapers spent the bulk of its media spend, £6.2m, on TV, with the rest of the spend made up of radio, press, outdoor and direct mail.
The Daily Mirror and Mirror.co.uk have recently been redesigned aiming to give the title a more contemporary look. The People has also undergone a redesign.
Circulation of the Daily Mirror was 1.32 million in August, down 8.96% year on year according to ABC figures. The Sunday Mirror registered a circulation of 1.23 million in the month, a drop of 5.66%.
The People, which, in its heyday, was selling more than two million copies, recorded a circulation of 586,414 in September, a fall of 9.7% year on year.
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