WPP’s newly-appointed CEO Mark Read is rumoured to be considering a consolidation between Young & Rubicam (Y&R) and ad firm VML.
According to The Wall Street Journal, Read is looking to combine the two agencies in an attempt to keep up with advertising’s digital shift.
The move would see current VML CEO Jon Cook at the helm of the combined business.
Read was officially appointed to CEO of WPP earlier this month, following former-CEO and founder Martin Sorrell left the position vacant in April.
At the time of his appointment, Read said in a statement: “Our industry is going through a period of structural change, not structural decline, and if we embrace that change we can look ahead to an exciting and successful future.
“Our mission now is to release the full potential that exists within the company for the benefit of our clients, to accelerate our transformation and simplify our offering, and to position WPP for stronger growth.
“To achieve that we need to foster a culture that attracts the best and brightest: inclusive, respectful, collaborative, diverse. What makes our company special is its people, and I am very proud to have been given the chance to build a new WPP with them,” added Read.
As per The Wall Street Journal, the strategy will allow creative agencies to detach themselves from TV and become less reliant on traditional media ad revenue.
As a result, digital ad revenue will be bolstered.
It is unclear how the move would impact the Australian arms of both agencies.
Pete Bosilkovski is the current CEO of Y&R ANZ, while VML is headed up by ECD and MD Aden Hepburn.
B&T sat down with Bosilkovski for our Fast30 Podcast, have a listen to the episode here.
A WPP spokesperson told B&T: “WPP declines to comment on merger considerations.”
Following a rigorous round of online judging by 133 industry experts, The Communications Council today announced that 88 finalists from 24 agencies on behalf of 36 clients have made it into Round Two of the Australian Effie Awards. Finalists will now compete for Effies, Australia’s only awards based on proven advertising effectiveness – across 26 […]
Integral Ad Science (IAS) today announced the launch of “Channel Science”, an industry-leading partnership between Channel Factory and IAS. The Channel Science solution helps advertisers to leverage both companies’ technologies through a single product to ensure their YouTube campaigns are brand-safe, brand-suitable, and performance-optimized. More than ever before, advertisers are searching for ways to streamline their media buying and improve […]
WPP AUNZ has launched its inaugural podcast series, led by WPP AUNZ Chief Strategy Officer, Rose Herceg (pictured). The podcast series will focus on the company’s recent thought leadership study: Secrets & Lies Chapter 4, Humanity & the Machine. Aired over the next few weeks, each discussion will take a deep dive into exploring the role […]
Westpac Group today announced it has partnered with Verizon Media’s Omnichannel DSP across its entire brand portfolio including Westpac Bank, St George Bank, Bank of Melbourne and Bank of South Australia. The new partnership gives Westpac Group access to Verizon Media’s end-to-end strategic marketing and planning capabilities including: first-party data based audience insights; full-service omnichannel […]
Network 10 is set to undergo a massive restructure, leaving a number of high-profile journalists out of a job, including Kerri-Anne Kennerley, Natarsha Belling and Tim Bailey, B&T understands. As first reported on The Sydney Morning Herald, the restructure was announced to staff on Tuesday. As part of the restructuring, the presentation of the weekday […]