11.00am News of Sir Frank's intention to launch an ad agency with others comes in a 30-word statement from the PR agency Sputnik Communications.
11.30am Rumours emerge that the £50 million Tesco business will move out of Lowe London and into the start-up. Mark Cadman and Russell Lidstone, JWT's managing director and head of planning respectively and previously key players on the Tesco account, fail to answer calls about their future. So too do Paul Hammersley (above), DDB London's chief executive, and David Hackworthy, his chief strategic officer, who are also reported to be involved.
12.00pm Paul Weinberger, quits as the chairman of Lowe London to join the start-up. Weinberger (left) has creative responsibility for Tesco. Sam Cartmell and Jason Laws, senior creatives working mainly on Tesco, say they will follow Weinberger.
10.30am Lidstone says that "at this moment, I'm still head of planning at JWT". Cadman keeps mum.
2.30pm Garry Lace (below), the Lowe chief executive, meets Tim Mason, Tesco's marketing director. He is told the business will be moving.
A timetable is discussed.
3.30pm Sir Frank said to be abroad and uncontactable.
5.45pm Lace calls Lowe staff together to confirm that the Tesco business is going after almost 16 years.
6.00pm Agency formally announces the split.
6.30pm Tesco confirms it will switch to Sir Frank's new agency next March.
11.15am Lowe sources claim the agency is planning a "counterpunch", the nature of which remains unclear.
3.30pm Lidstone confirms he will be staying at JWT.
4.00pm Hammersley flies to the US for meeting of DDB senior managers.
5.00pm Cadman (left) said to be torn over joining start-up, fearing he may miss out on chief executive's job at JWT. "He's between a rock and a hard place," a JWT source says.
5.30pm Hammersley still has not resigned from DDB.