WESTERN INITIATIVE GETS NEW NAME
By Adnews Staff
Los Angeles-based media company Western Initiative Media has changed its name, according to a report in the Los Angeles Times. Chief Executive Officer Louis Schultz announced the company will be known as Initiative Media North America. The new name, he explained, reflects the media agency's plans to expand beyond traditional media-buying services including creating a stronger presence for Initiative in online and interactive advertising. Schultz said Initiative has 85 'dot-coms' it is currently buying media for. "In five years, we'll expand nontraditional billings to the point that the ratio would drop to about 60-40" he said. Schultz, who also announced the company will not be moving its head office to New York as previously suspected, made the announcement in a speech broadcast to Initiative's 1,500 employees.