WPP Forms Media Parent Company

WPP Group’s two media networks, Mediaedge:cia and MindShare, are being combined under a media parent company called GroupM. The new entity will manage MindShare and Mediaedge:cia as distinct companies, but they will share resources where appropriate, including negotiating the upfront buying season jointly. MindShare worldwide CEO Irwin Gotlieb was named GroupM CEO. MindShare COO Dominic Proctor will succeed Gotlieb as MindShare CEO.