Omnicom seals 10m MGM deal

Omnicom is to take over Manning Gottlieb Media this week after a month of wrangling with rival media giant Carat.

The deal, which is understood to value MGM, with a client list including Eurostar, at 10m, is the first stage in Omnicom’s consolidation of its media businesses across Europe. Omnicom, in talks with MGM since May, will not pay the full price as it already owns 36 per cent of MGM through TBWA Simons Palmer.

This is the second blow Omnicom has inflicted on Carat in a month. At the end of June it emerged that TBWA had terminated its contract to put media buying through the Carat-owned Eurospace group (MW July 3).

However, Eurospace’s largest client in the UK, Nissan, with a spend of 60m, has committed itself to staying with Carat. Miller Brewing says it will also keep its 4m media buying with Carat (MW July 24). It is still unclear what will happen to the Eurospace brand.

Omnicom’s plans to consolidate its media are creating conflict across the network. TBWA handles Nissan above the line, New PHD has Volvo, and DDB holds Volkswagen.

Neither MGM nor Carat would comment.

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