WPP unites media units under single parent - GroupM

NEW YORK: It will tower above them all by being the world's largest media services company! WPP Group has created a new parent company called GroupM that will house its media agencies, MindShare and Mediaedge:CIA.

The intention is to combine forces in creating new media strategy tools, eliminate back-office redundancies and leverage their combined billings clout.

An adage report states that GroupM will have a total of $31.5 billion in billings, according to figures put out by RECMA. This will propel GroupM to the top of the pack bating Starcom MediaVest Group, which according to RECMA, claims total global billings of $18.4 billion. RECMA is a Paris-based marketing research institute that monitors media activities in the world's major advertising/media markets.

The report also states that MindShare Worldwide CEO Irwin Gotlieb will head GroupM, while MindShare Worldwide COO Dominic Proctor, will take over as MindShareWorldwide CEO. Rupert Day will be the CFO for GroupM

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