The account, worth an estimated £2.5 million, is currently held by Green Cathedral, and is up for statutory review.
Green Cathedral, based in Cambridge, with a media team located at its London office, has worked with the Open University since 2004, and, in addition to media activity, has also handled web design and creative projects. Last summer, it created a viral game for the Open University called "Kitchen Konundrum", which was targeted at an audience of 17- to 25-year-olds.
The Open University's review of its online media arrangements follows a similar process a year ago, which focused on its offline media planning and buying. Zed Media won the account. It is also midway through a statutory review of its £3 million creative account, which is currently held by FCBi.
Last year, online advertising supported the Open University's "powering people" TV campaign, which featured four of its successful graduates.
David Andrew, the marketing director of the Open University, was unavailable for comment.