Media Passage Shuts Down, Lays Off 150

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NEW YORK (AdAge.com) -- The Seattle office of Zenith Media will handle the Verizon print account formerly held by Media Passage, a media placement agency based in Seattle that closed its doors Monday, laying off approximately 150 employees.

Zenith, jointly owned by Publicis Groupe and Cordiant Communications, is Verizon's media agency of record and continues to handle the telecommunications giant's print buying and planning business.

Media Passage, which earlier this year merged with One Media Place, essentially performed a clerical function for Verizon, implementing and monitoring print advertising buys that were negotiated by Zenith.

A significant number of Media Passage employees are expected to be rehired by Zenith and folded into the Seattle office.

Media Passage was funded by venture capital firms that pulled their funding following the terrorist attack on the World Trade Center Sept. 11, according to an executive close to the defunct company.

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