In a move that blindsided many staffers, Paramount has fired its longtime media agency of record in a cost-saving move as its merger with Skydance Media continues to gestate.
WPP Media, formerly known as GroupM before a recent rebrand, had worked with the company for more than two decades. Three sources familiar with the situation told Deadline the agency was fired and replaced by Publicis, another of the large agency players. The switch, which was not preceded by the customary review period (when an incumbent has a chance to retain the business), is going to result in significant cost savings and has been characterized as a business decision. Executives relayed the news at Paramount and externally last Friday.
Total annual billings from Paramount, for international ads for Paramount+ (Horizon Media handles the streamer domestically) as well as global campaigns for films like the latest Mission: Impossible, are in the range of $600 million, one source said. It wasn’t immediately clear how much of a savings would be created, and sources indicated other factors were also considered in terms of workflow and strategy.
Publicis did not respond to a request for comment. Reps from Paramount, Skydance and WPP Media declined to comment.
The $8 billion merger of Skydance and Paramount, which seemed a sure bet at the start of the year, has entered murkier territory thanks in large part to President Donald Trump’s animus toward CBS News.
Reaction on the Paramount lot was less about the agonizingly slow crawl more to come. MSN