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May Consolidate $400 Million Creative and Media Accounts

Published on .

NEW YORK (AdAge.com) -- Samsung Group was said to be conducting an informal global review of its estimated $400 million creative and media business, according to executives close to the matter.

Interpublic Group of Cos.' Foote, Cone & Belding Worldwide and Initiative Media are Samsung's U.S. agencies. Samsung spends about $100 million a year on U.S. advertising.

A spokeswoman for Samsung said there was "no truth" to review "rumors" and that there are "no plans to change" agencies. FCB also denied there was a review; Initiative declined to comment.

Executives familiar with the situation said what began as a regional review of Samsung advertising in Korea expanded to include worldwide operations and that Samsung executives in Seoul have met with its incumbent shops and unnamed other agencies with a view toward possible global consolidation of its accounts.

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