LONDON - The Economist has retained PHD to handle its £3 million media business, following a review that also involved the company's other specialist incumbent agencies TCS, Kinetic and Paul Gummer Associates.
PHD will be responsible for The Economist's on- and offline media planning and buying and will work closely alongside Abbott Mead Vickers BBDO, which handles the brand's advertising.
In 2008, The Economist spent around £2.6 million on media, an increase of £1.5 million from the previous year.
The publisher's parent company recently a reported a 26 per cent year on year rise in operating profits to £56 million for the year ending 31 March 2009.
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