Even Quakers move on

Quaker Oats has taken its $120 million account off the hands of Omnicom-owned Element 79, following in the footsteps of sibling brands Gatorade, Tostitos, Lays, Tropicana and Propel. Total losses to the agency are estimated at $440 million.

Quaker Oats' account is now in review. Element 79 was not invited to participate, according to Advertising Age.

Speculators wonder whether, given its losses, Element 79 can remain an independent agency for long. (The agency was founded in 2002, mainly to service Gatorade and Quaker oats.)

CEO Brian Williams, however, dismissed rumors it might sell itself to DDB, Chicago.