Previously known as Western Trading, Initiative Trading is a barter arm of the media shop. Initiative Trading was launched in 1996 by Chairman-CEO Bob Ingram, who is leaving the company to head up his own operation, Integrated Media Solutions.
Otherwise known as corporate trade, barter is a service used by marketers with excess product or cash-strapped clients who trade unsold inventory for media credits. Such deals generally proliferate during recessions.
Mr. McMahon, 41, has been with Initiative Trading from its inception. Previously, he was chairman of London-based Falcon Group.
Mr. Ingram, meanwhile, told AdAge.com that his new venture is a "media management company for Web-based and performance-based advertising, general media as well as barter transactions. We consult on barter transactions."
Mr. Ingram said he has 65 employees working in offices in New York and Los Angeles.