Interpublic Group of Companies reportedly has said it would defend its advertising account with General Motors, which has put its ad business, estimated to be worth at least $US2.8 billion, up for review.
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“Given the concern that the announcement of the US review has created in the financial markets, it bears mention that the revenue associated with the assignment in question represents less than 1% of our global revenue,” Interpublic CEO Michael Roth said in a statement cited by Reuters.
The news agency noted that GM on Monday said it had put its advertising buying business up for bid in order to cut costs and respond to the changing advertising landscape.
A GM spokeswoman reportedly said the company sent a letter last week to Starcom Mediavest, a unit of France’s Publicis Groupe, to compete for the business currently done by General Motors Mediaworks and LCI, which are both units of Interpublic.
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