Ad group WPP in talks
with client Ford to extend partnership
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[November 28, 2017]
LONDON (Reuters) - WPP <WPP.L>
said on Tuesday Ford Motor Company <F.N>, a major
client, had informed it of its intention to carry on
working with the world's biggest advertising agency for
a new period of time beginning in 2018, lifting its
Martin Sorrell, chairman and chief executive officer of
WPP, the world's largest advertising company, speaks at
the Confederation of British Industry's (CBI) annual
conference in London, Britain November 21, 2016.
REUTERS/Stefan Wermuth/File Photo
Britain's WPP, led by the high profile businessman Martin
Sorrell, has been hit this year by a slowdown in spending from
some clients and a new wave of competition that has forced the
big ad groups to turn more aggressive when bidding for new
WPP, which includes such names as Vodafone, Chanel, Unilever and
BP on its client roster, said it had been verbally informed by
Ford that the car company was considering its future internal
and external marketing model and wanted to enter into a further
agreement with WPP for a period to be agreed in 2018.
"WPP is considering the proposal and is in discussion with Ford
on next steps," it said. Shares in WPP rose on the news and were
up 2.6 percent at 1345 GMT.
(Reporting by Kate Holton; editing by Jason Neely)
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