MG OMD, which held the account for seven years, was not invited to repitch for the business, leaving it open to ZenithOptimedia, Vizeum, John Ayling Associates and I-Level.
Agencies will present during the next month and Teletext aims to have an agency in place by November 1.
The task will cover the Daily Mail & General Trust-owned service's entire media planning and buying, although the bulk of it is made up of Teletext Holidays.
Speaking about the decision to review the account, Teletext marketing director Marc Bell said: "We're pleased with the way in which MG OMD has supported us and its contribution has played a major part in helping us to grow our brand. However, after seven years we feel it is appropriate for a fresh approach to our media planning and buying."
Teletext said in a statement that it has no plans to review its other retained agencies, which include creative agency Delaney Lund Knox Warren, Band & Brown Communications for PR, and TBA Marketing, which handles its business advertising.
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