Confusion has broken out over the future of Yellow M's tenure of the Tory advertising account with news that the party has approached rival agencies about its pounds 10 million business.
Campaign has spoken to three agencies that have been approached by the Tory Party as it attempts to assemble a pitchlist for the business. In some cases it is believed to have made the approaches via Agency Insights.
The move comes only six months after Yellow M was appointed.
However, a Conservative Party spokesman denied that it is looking for an agency.
He said: 'That is categorically untrue.'
Observers question whether any agencies will be willing to pitch for the business, given the party's slender chances of winning the next election.
The party took several months to draw up its shortlist a year ago. In the end, Bates UK was the only large London-based agency that was involved in the pitch.
Yellow M produced its first work for the Tories in September at the party conference. It emphasised Labour's broken promises with the line: 'Is this what you voted for?'
Yellow M had previously produced work for the Scottish Conservative Party, which showed Tony Blair next to the word 'Bliar'.
The Conservative Party has handed the role of election campaign director to Andrew Lansley, the shadow cabinet office minister. He will oversee advertising strategy with Michael Ancram, the party chairman. Amanda Platell, the director of communications, is also involved with the Tory ad strategy.
The Conservative Party spend for the next election will be split between advertising in key constituencies and direct marketing, handled by Archibald Ingall Stretton.
