NEW YORK--(BUSINESS WIRE)--Jan. 8, 2008--The Interpublic Group (NYSE: IPG) confirmed today that its Initiative unit has been named media agency of record by Hyundai Motors America and Kia Motors America. The decision concludes a competitive review process that began in October 2007. Industry reports indicate that Hyundai/Kia annual U.S. measured media spend totals approximately $750 million.
"This is yet another sign of the renewed vitality of our media agencies," said Michael I. Roth, Interpublic's Chairman and CEO. "Initiative posted very strong new business results last year and this is the largest in a series of encouraging wins for them."
"We are thrilled to have been selected as media and marketing partner by such dynamic brands," said Richard Beaven, CEO of Initiative North America. "Like us and our existing clients, Hyundai and Kia believe in the power of media thinking to transform marketing results. We're keen to work with such like-minded individuals during this important and challenging time for our industry."
Initiative is one of the top 10 media networks in the world, with operations in 58 countries. Its U.S. unit added significant new responsibilities from Bayer, Big Lots, Coors, Kao Brands and Quiznos in 2007, as well as numerous creative and industry trade awards for work with clients CBS Television, Coors, Hardee's, Home Depot and Showtime.
Interpublic is one of the world's leading organizations of advertising agencies and marketing services companies. Major global brands include Draftfcb, FutureBrand, GolinHarris International, Initiative, Jack Morton Worldwide, Lowe Worldwide, MAGNA Global, McCann Erickson, Momentum, MRM Worldwide, Octagon, Universal McCann and Weber Shandwick. Leading domestic brands include Campbell-Ewald, Carmichael Lynch, Deutsch, Hill Holliday, Mullen, The Martin Agency and R/GA. For more information, please visit www.interpublic.com.
CONTACT: Interpublic Group
Philippe Krakowsky, 212-704-1328
Jerry Leshne, 212-704-1439
SOURCE: Interpublic Group