WPP was not available to comment at the time of press, but it is understood that the enterprise will integrate a number of WPP’s mobile, experiential, event marketing, brand activation and out-of-home (OOH) communications under one strategic holding company.
As part of the new initiative, WPP's OOH media planning and buying company Kinetic Worldwide, which previously operated out of GroupM, will be folded into Tenth Avenue.
Kinetic, which has global billings of US$4.4 billion and operates in 39 offices in 21 markets worldwide, was launched in 2005, following the merger of Poster Publicity International with WPP's Portland International. The agency became 100 per cent-owned by WPP in December 2010.
A source told ±±¾©Èü³µpk10 that the new arrangement would not change Kinetic’s relationship with GroupM, but would give the outdoor player access to new services and agencies, allowing it to offer clients a more integrated offering.
Earlier this month, WPP filed for registration of the Tenth Avenue trademark in the US. Full rollout of the company is expected soon.
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