WPP network chiefs meet to thrash out media merger plan

Senior worldwide executives at Ogilvy and Mather and J. Walter Thompson, the WPP group’s two leading ad agencies, will meet later this month to discuss details of the planned media merger outside the US. A statement of intent is expected to be issued by the end of the month.

Senior worldwide executives at Ogilvy and Mather and J. Walter

Thompson, the WPP group’s two leading ad agencies, will meet later this

month to discuss details of the planned media merger outside the US. A

statement of intent is expected to be issued by the end of the

month.



A senior source at O&M London confirmed this week that the meeting would

take place on 23 May. Those attending from O&M include: Shelly Lazarus,

worldwide chief executive, Mike Walsh, UK and European chairman, and

Miles Young, chief executive in the Far East. JWT representatives will

include: Chris Jones, worldwide chief executive, and Michael Madel,

European president and chief executive.



The agencies hope to launch the venture in Europe by the autumn. The new

company will be 50/50 owned by JWT and O&M and will function as a

standalone operation. Key details to be ironed out are financial

reporting procedures and remuneration. The UK is expected to be one of

the first countries to be reorganised.



In the UK, the news comes in the week that JWT and O&M jointly made the

shortlist for the COI’s pounds 20 million press planning and buying

business.



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