London-based advertising agency WPP PLC has lost a US contract with soft drinks maker Coca-Cola Co to Paris-based rival Publicis Groupe SA, the Financial Times reported on Friday.
Publicis has won the media buying and planning contract for Coke in the US and Canada following a competitive tender, the newspaper reported, citing ‘three people familiar with the deal’. The contract represented $800 million per annum in overall spending by Coke, they said.
WPP will remain Coca-Cola’s global marketing partner, including for media buying and planning, elsewhere in the world, the FT said, adding that WPP and Publicis declined to comment.
WPP shares were up 0.2% to 617.40 pence on Monday morning, but they lost 1.6% on Friday. Publicis shares were up 0.8% to €92.10 in Paris on Monday, having gained 1.0% on Friday.
Copyright 2025 Alliance News Ltd. All Rights Reserved.