Staff Reporters
Jul 22, 2011

Philips calls $500m global creative and media review

GLOBAL - Dutch consumer electronics giant Philips is set to review its global creative and media business, believed to be worth close to US$500 million.

The combined account is understood to be worth close to $500 million
The combined account is understood to be worth close to $500 million

The lead incumbents on the accounts are DDB and Carat but sources said that advertising and media networks have been approached at a holding level ahead of an imminent review.

DDB has held the global creative business since 2001 when it beat then incumbent Euro RSCG to the business.

Aegis-owned Carat last defended its account in 2007 during a review of its media business. It held onto the business following a final shootout with Group M’s MEC.

Philips called a review of its global digital business, held by Tribal DDB, eleven months ago. However, sources suggest that the review was abandoned before it reached a full pitch.

This article was first published on campaignlive.co.uk

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