Mar. 14 at 6:03 PM
$WPP $KO
WPP loses, Publicis wins Coca-Cola media work in North America, FT reports
WPP (WPP) has lost one of its biggest North American clients for media buying and planning, Coca-Cola (KO), handing a win to French rival Publicis (PUBGY), Financial Times' Daniel Thomas reports. Publicis - which last year overtook WPP as the largest agency in the world based on revenues - has won Coke's media business in the U.S. and Canada following a competitive tender, according to three people familiar with the deal.
Those close to the contract said that Coke spent close to
$800M every year in overall billings, the author says. WPP will remain Coca-Cola's global marketing partner, including for media buying and planning elsewhere in the world and will continue to handle the overall creative work for its advertising.
