Christine Walker, the former Zenith Media chief executive, has
ended months of speculation by confirming that she plans to set up a
media joint venture with M&C Saatchi after the notice period on her
contract with her former employer expires at the end of this week.
Walker plans to set up a new outfit, provisionally named Walker Media,
which, contrary to speculation, will be a 50:50 joint venture with M&C
Saatchi. It is to open for business in M&C Saatchi’s Golden Square
premises on 1 January but, in compliance with the terms of her contract
with Zenith, she has no staff or clients.
Walker has been on gardening leave for the past year. Her statement came
in the week Zenith served a writ on her in an attempt to enforce further
12-month restrictive covenants on her working with Zenith staff and
clients. A date for a court hearing has been set for mid-November (see
below).
’It is my intention to set up this company when I am free to do so on 25
October,’ Walker told Campaign. ’In the past year I’ve been approached
by a series of people wanting to back me financially. M&C Saatchi’s
approach was upbeat. There was such a strong will from them. In the end
it was a no-brainer. Soon, I can get back to doing what I want to do -
media.’
David Kershaw, the M&C Saatchi co-founder, said: ’Christine’s the only
person we would have considered setting up a media venture with. She’s
the best person in London, and we know we work well together.’
Kershaw was at pains to explain the proposed company would not affect
Optimedia’s media-buying relationship with M&C Saatchi: ’Optimedia will
continue to do an outstanding job on British Airways and remains the
agency’s preferred international partner.’
The New Millennium Experience Company is rumoured to be a likely first
client for the venture. When M&C Saatchi won the account earlier this
year, it was given the power to subcontract media and has not yet made a
public appointment.
