Aegis Group’s Carat North America purchased the media buying assets of Independent Media Services in New York for $7.3 million in cash. IMS was the incumbent on New Line Studios’ $120 million account, won by Carat following a review in 2001. IMS filed a suit, which alleged Carat, in pitching the studio, violated terms of a non-disclosure agreement forged during aborted merger talks with IMS. IMS won an initial judgment of $7 million last October. With the acquisition, both agreed to withdraw outstanding litigation and to vacate the judgment.
monster.com Launches Review
boston After splitting with Havas’ Arnold in Boston last week, Monster.com has launched a creative and media review. It will be managed by client founder and chairman Jeff Taylor. The client hopes to select an agency by “mid-summer” for an effort to rebrand Monster and its parent, TMP Worldwide, as a single entity under a new, undisclosed name, said Taylor. Location is not a strict consideration for inclusion in the pitch.
Carat Buys IMS Media Assets
