PUBLICIS AND CORDIANT CONSOLIDATE MEDIA OPERATIONS
By Adnews Staff
Publicis Groupe and Cordiant Communications Group plan to consolidate their media operations in a new UK-based holding company. The new company, which is using the temporary name NewCo, will acquire Zenith Media, the media operation jointly-owned by Publicis and Cordiant. Publicis will transfer or sell its Optimedia operations in the U.S., United Kingdom, Germany, France, Italy, Portugal, Netherlands, Spain and Canada, to the new company. Publicis will own 75% of the firm with the remaining 25% owned by Cordiant. Further details regarding the firm's operational structure and services are said to be forthcoming.
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