PHD reclaims £3 million Economist media planning and buying business

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.

The Economist... reappointed PHD
The Economist... reappointed PHD

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.