It is understood that the new entity, whose name was devised by sister agency The Partners, will be charged with handling WPP's conflict assignments after WPP chief executive Sir Martin Sorrell last month said that the new entity would have a different positioning to MindShare and Mediaedge:cia.
The new entity will be made up of second-tier agencies currently reporting to MindShare or Mediaedge:cia. This includes MindShare's Maximize and Motivator, which have a strong presence in Asia, and Mediaedge:cia's Media Insight, which has a significant operation in Europe. The network will also include Zenith offices, which came with WPP's acquisition of Cordiant.
Sources suggested that the new network would be an independent company reporting directly into Group M, which oversees all of WPP's media operations including MindShare and Mediaedge:cia.
Two weeks ago, it was also reported that WPP had acquired 75% of German sponsorship firm SponsorCom, a deal designed to broaden the sponsorship capabilities of its media planning and buying network Mediaedge:cia.
WPP Group has reported revenues for the first quarter of the year up by nearly 6%, including a 12% rise in the UK, and said there are signs that an increasing number of new-business opportunities.
If you have an opinion on this or any other issue raised on Brand Republic, join the debate in the .
_1.jpg)
.jpg)
