Charles Schwab put its $100 million traditional and digital media account into play; incumbent, Omnicom's PHD - under which the company consolidated its buying and planning business in 2005 - has been invited to pitch and is meeting with Charles Schwab next week for a "chemistry check."
Other agencies pitching including Universal McCann and Aegis's Carat, writes AdAge (via MediaBuyerPlanner).
The company's vp-media, Mike Naughton, says the review has to do with today’s media landscape. "The fact is, media is rapidly evolving and new technologies have created a lot of opportunities for marketers that honestly didn’t exist before. Media defines how consumers live and this is a great opportunity to ensure we’re aligning ourselves with the best thinking out there."
PHD successfully defended its $100 million-plus media business from Discovery Networks. PHD’s biggest client is Chrysler. In December of last year, faced with declining business from the embattled automaker, PHD cut 30 jobs - about 2.5% of its workforce - and closed its Atlanta office.
