[hong kong] Interpublic Group of Cos. has opened its media negotiating unit, Magna Global, in Asia, with offices in Hong Kong and Singapore. Magna Global doesn't plan or buy media but negotiates with media owners on behalf of Interpublic's media operations like Universal McCann
and Initiative Media. Gary Sin, Universal McCann's managing director of central media buying in mainland China, becomes managing director, Hong Kong & China for Magna Global, based in Shanghai. Interpublic's media billings total $242 million in mainland China and $90 million in Hong Kong. Magna Global already operates in North America and much of Europe, and will roll out in the first half of 2003 to the rest of Europe, other Asian markets including Japan and India, and two Latin American countries, Mexico and Argentina.