Aegis Group has won the pan-European media buying and planning account for General Motors, the world’s second largest spender on advertising behind household goods maker Procter & Gamble, according to a Friday (29 September) report.
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Citing advertising industry sources, Reuters said the account, which will be among Aegis’s largest, is valued at about $750m (GBP401.8m), though Aegis will receive only a fraction of that as fees for helping GM decide where to spend its advertising budget.
Aegis reportedly declined to comment on the value of the account.
Reuters noted that the Interpublic group of companies formerly held the auto maker’s account, which includes the Vauxhall, Saab and Chevrolet brands. The world’s third largest advertising conglomerate also lost GM’s massive US media-buying account to Publicis last year, the report added.
Within Europe, GM is one of the largest advertisers in Britain, Spain, Switzerland and Sweden, Reuters said, noting that the account is a big win amid some controversy for Aegis, which is facing a renewed attempt from its largest shareholder, French financier Vincent Bollore, to gain seats on its board.
Reuters said the UK advertising group also suspended the head of its business in central and eastern Europe and South Africa last week after German prosecutors launched an investigation following allegations of embezzlement by him and others.
