Omnicom agencies Abbott Mead Vickers.BBDO and BMP DDB Needham are understood to have completed a deal to merge their media departments.
It is believed that AMV vice-chairman Ken New will become chief executive and BMP joint media director Derek Morris executive media director at the new operation.
The media group chiefs and media managers for the new operation will come from AMV’s media department.
Sources say Omnicom is seeking new premises for the outfit. Omnicom’s desire to hold onto the 21m Courage media buying account is only one rationale for the deal. Sources insist Omnicom has decided to create a network-wide bulk-buying unit in the UK, similar to its operations on the continent and Cordiant’s Zenith in Britain.
An AMV source denies a final decision had been made on a joint venture, but says it had been under discussion as one of a number of options.
Omnicom has a nine per cent stake in media buying company Aegis. Bruce Crawford, chief executive of Omnicom, is believed to have been appointed a director of Aegis.