Publicis-Cordiant Media Negotiations Continues

NEW YORK-Publicis Groupe S.A. and Cordiant Communications are continuing talks designed to hash out ownership in a media holding company that would house Publicis’ media brand, Optimedia, and Zenith Media, which is co-owned by Publicis and Cordiant. Ernst & Young has assessed each media shop’s value, but percentage stakes in the whole are still being ironed out this despite reports that the two sides had settled on a 75-25 percent split, with Publicis getting the lion’s share. Cordiant CEO Michael Bungey has said that he would not accept “anything less than 25 percent” of the new entity, a representative said.