Interpublic Group's Initiative beat out incumbent Carat, a unit of Aegis Group, and Omnicom Group's OMD in CBS's $130 million media business review, AdWeek writes (via MediaBuyerPlanner). When Viacom and CBS split into two companies, CBS added Showtime, the King World and Paramount syndication units, Simon & Schuster Publishing and CBS Digital Media, which prompted the media review.

Initiative will plan and buy national advertising for TV, print, cable, radio, newspapers, magazines and interactive; local TV and radio stations were not part of the review. According to CBS marketing president George Schweitzer, "It's not about Carat, it's about the new world."

CBS was the first account Carat won when it was established in the U.S. eight years ago, AdAge reports.