LOS ANGELES Fox Filmed Entertainment has launched a review to consolidate global media chores for the studio's theatrical and home entertainment enterprises, confirmed search consultancy Select Resources International, which is managing the process.
Estimated overall annual ad spending is approximately $1.1 billion, about $750 million of which is spent in U.S. media.
The review was characterized by Santa Monica, Calif.-based SRI as a "strategic move" to assign media chores to a single global agency by year's end. Fox representatives declined comment.
WPP Group's MindShare handles Fox's national and Canadian cable, local television and radio buying. Omnicom Group's Organic works on the client's domestic Internet media assignment.
SRI said individual shops would not compete. Rather, six global top holding companies (Omnicom Group, WPP Group, Interpublic Group, Publicis Groupe, Havas and Aegis Group) would be asked to put together plans to pitch the assignment.
Agency officials either could not be reached or declined comment.
The review does not include chores handled by Allied, Fox's national newspaper agency, according to SRI.
The account involves advertising for movies, home entertainment and programming from Twentieth Century Fox, Fox 2000 Pictures, Fox Searchlight Pictures, Fox Atomic and Fox Animation as well as Twentieth Century Fox International.
This story updates an earlier item with the news that holding companies would be asked to pitch.