TfL group marketing director, Chris Townsend, has confirmed that a review of the way the body manages its media space is being reviewed with consolidation of the work, which includes London Underground, bus shelters and Victoria Coach Station, an option being considered.
He said that potential cost savings of the move was a factor, as is a current market trend towards consolidation.
Any move towards consolidation is not likely to happen for a number of years because two of the biggest accounts, for London Underground media sales and bus shelter maintenance and advertising, are under review.
A tender process for part of the bus shelter account, which has been held by Adshel for 25 years, is already under way. Tendering for the Underground account, which has been held by Viacom for the last decade, is expected by the end of next year, according to a TfL spokesman.
The spokesman added: "This [consolidation] is not something that will happen over night. It's one of a number of options, which are being considered... given we are a publicly funded body, then we have to look at the option as part of due diligence."
Andrew Oldham, joint managing director at Viacom, which also holds the Docklands Light Railway and Victoria Coach Station accounts, confirmed that the firm would be interested in handling a consolidated account.
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