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Metropolitan Life Insurance, a longtime client of Young & Rubicam here, is contacting agencies about its advertising account, sources said.
Marketing executives have floated a budget of $50 million, according to sources. But MetLife, which is gearing up for an initial public offering next year, typically spends $20-30 million a year in measured media, according to Competitive Media Re-porting.
A select number of shops have been invited to pitch the account, in-cluding the incumbent, which is expected to defend.
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