GM bags Interpublic

Agencies The car manufacturer General Motors (GM) is pitching for its 3.5 billion dollar US media buying budget, the second largest client in the USA, which was previously handled by agencies of the advertising holding company Interpublic, which now has to compete against Publicis. Interpublic is threatened with the loss of almost one percent of its global income. The announcement caused Interpublic's share price to plummet by almost five percent.