Lowe Howard-Spink, the ultimate full-service agency, is looking at
developing a new media venture in an aggressive move on the UK media
marketplace.
Lowes is discussing with its Interpublic parent the launch of a separate
media operation by acquiring a media independent, in a bid to become a
top-five media player.
Talks are being held about the opportunities to take some of the
agency’s media buying out of house and into a big, new buying point.
Lowes has an impressive media reputation. The point at issue now is
whether this reputation can be improved through a dedicated media
operation with greater buying muscle.
Insiders say that Lowes is determined to become a top-five player in UK
media and keen to increase its media volume through acquisition.
Last year, its pounds 154 million media billings put it in tenth place
among the top media companies, but the agency is now looking at the
benefits to clients of increasing its media volume.
Tim Lindsay, the managing director of Lowe Howard-Spink, admitted that
the agency was considering a number of options ‘both in the media area
and broadly, including a possible acquisition of a media independent’.
‘Market conditions are changing and we have to provide the best service
we can for our clients,’ he added.
Earlier this year, Lowes began to withdraw from Universal Media, the
joint media venture with its sister Interpublic agency, McCann-Erickson.
The agency has since been laying plans for improving its own media
service internationally.
It has already launched a media venture in Italy in association with the
media independent, CIA, and the benefits of a Lowes European media
network are being carefully examined. However, speculation of a UK deal
with Chris Ingram, CIA’s chairman, has been denied.
