Cordiant and Publicis hire Ernst & Young to help with media merger

Accountancy firm Ernst & Young has been hired by advertising groups Cordiant Communications and its French rival Publicis to sort out a merger of their media-buying businesses.

Accountancy firm Ernst & Young has been hired by advertising groups Cordiant Communications and its French rival Publicis to sort out a merger of their media-buying businesses.

It is hoped the deal will bring to a close a year-long battle between the two groups over their Zenith Media joint venture.

Cordiant claimed last year that Publicis had poached a major client, Hewlett-Packard, from Zenith and rolled it into its own buying company Optimedia.

They have since been negotiating to merge Zenith and Optimedia into a new company, although their respective stakes have yet to be finalised.



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