Philips calls for $ 500 m global creative and media review

Monday, 25 July 2011 00:06 - - {{hitsCtrl.values.hits}}

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 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.