Nationwide has winnowed the list of agencies contending for its media account to two, per sources: incumbent Universal McCann, a unit of Interpublic Group, and MediaCom, owned by WPP.
The insurance company spent $210 million in major measured media in 2008, according to Nielsen.
The client launched parallel creative and media reviews in late December.
Earlier this month Nationwide awarded the creative business to Durham, N.C.-based independent shop McKinney. Interpublic Group's TM Advertising had been the incumbent.
Sources said the media finalists were briefed on presentations within the last week and that a decision is expected in June.
It could not be determined which shops had been eliminated earlier from the competition. The agencies either couldn't be reached or declined comment. A client rep could not be immediately reached.
ABA Consulting, Dallas, which referred calls to the client, is overseeing the review process.