It appears that Verizon’s nearly three-month multicultural review has drawn to a close as the telecom giant sent us the statement below late last Friday that basically sums things up:
“We are in an industry that’s changes rapidly and it is important that we stay competitive in every aspect of our business including our advertising. Verizon Communications has been working with López Negrete Communications for more than two years and we are expanding their scope of work in order to help drive agency efficiencies across all our lines of business.”
Seeing as Verizon has expanded its relationship with Houston-based López Negrete, one wonders where this leaves GlobalHue, which has worked with the brand for years on its multicultural biz. What we do know as of know is that despite what tipsters have been telling us, GH will NOT be closing up its New York office “any time soon.” Sources in the know add that the agency has actually won two more AOR assignments that will be announced in the near future. We’ll keep you posted. Update: Just to clarify, Lopez Negrete will focus on Verizon’s Hispanic business while Chicago-based shop Common Ground will handle its African-American work.