NEW YORK - Philips Electronics has awarded Carat its $600m (£428.1m) consolidated global media account following a three-way pitch and a four-month review.
The London office of Carat, an incumbent on the business, triumphed in a pitch against Initiative Media and MediaVest New York, which was also an incumbent on the account.
The win does not include the business in Latin America, which remains with MediaVest for the time being. However, at an unspecified later date this part of the account will move to Carat.
The move does not affect the creative account, which remains with DDB Worldwide New York.
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