Paramount ends 20 year relationship with WPP Media
After more than two decades working together, Paramount has cut ties with WPP Media, appointing Publicis as its new media agency.
According to Deadline, the decision was not the result of a regular agency review, and it “blindsided” many. Paramount executives relayed the news selectively within the business, and to some people externally, last Friday.
It comes as Paramount’s proposed merger with Skydance looms.
The deal was announced last July, but has hit roadblocks in the US, with The Center for American Rights petitioning the FCC to block the sale, over fears of Chinese investment in Skydance Media. In recent weeks, it has become more unsure due to President Donald Trump’s lawsuit against Paramount’s CBS.
As Paramount awaits the merger, reports suggested the entertainment conglomerate is particularly cost-conscious right now, describing this move as a cost cutting effort.
Paramount declined to comment.
It is not clear if this global decision will affect the local market. WPP Media also declined to comment.
Paramount and WPP’s relationship began in 2004 when WPP’s Mediaedge Cia was appointed for media planning and buying. The agency rebranded to MEC in 2010, and in 2017 it merged with Maxus to form Wavemaker.
Wavemaker expanded its remit in 2021, when it became the media agency of record for Viacom CBS, now part of Paramount Global.
WPP Media, formerly known as GroupM, recently rebranded.
Keep up to date with the latest in media and marketing
Got a tip?
Lauren McNamara is the associate editor at Mumbrella, covering the agency beat. She joined in November 2022 as editorial assistant, after completing a Bachelor of Communications (Journalism) at UTS.
Linkedin
Have your say