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IPG filed a complaint on Friday with the American Arbitration Association against Frank Lowe, claiming that Lowe breached his fiduciary responsibilities to the company and seeking monetary damages; Lowe yesterday issued a statement claiming the allegations are “without foundation and are utterly refuted,” writes Adweek. Lowe is seeking a withdrawal of the complaint and an apology.
Lowe, founder and former global chairman of IPG’s Lowe, announced in December that he was founding a new agency. Paul Weinberger, chairman of the London office of Lowe, then resigned his post to become a partner at the new agency. Since then, two other former Lowe London executives - Sam Cartmell and Jason Lawes, a senior creative team - have said they would join the new agency, along with Paul Hammersley, the former CEO of DDB in London.
David Hackworthy, DDB London’s chief strategic officer, resigned his post Sunday night to join Lowe’s new agency, as well, AdAge writes.
IPG, which dismissed Lowe in 2003, believes its claim against Lowe is valid because, even though Lowe’s noncompete clauses expired last year, he still receives a pension that came with a ban on soliciting former clients and staffers. Tesco, an IPG account which is jumping with Weinberger to Lowe’s new agency, spends nearly $80 million a year in measured media.
Katz Media Group has added another new client, Lincoln Financial Media, and will sell ad time on the company’s 15 stations beginning immediately.
Katz also added CBS Radio and Entercom last week, picking them off from Interep’s list.
Katz has also…
Last week, Aegis Group CEO Robert Lerwill resigned unexpectedly, sparking speculation that a takeover may be on the horizon.
Lerwill stepped down officially today (Monday), with Aegis chairman John Napier taking over his duties on an interim basis, writes MediaPost. People…
Out-of-home companies are bracing for the recession like everyone else, but they may not feel the sting as badly as other media.
Though the third quarter brought negative growth to the nation’s three largest OOH companies - Clear Channel Outdoor,…
It’s official: with a full 28 days of data, ABC can claim to be the top network in terms of adults 18-49, its fourth November win in the demo. CBS can also claim a victory, winning in households and total…
Top American non-luxury auto brands received higher ratings and less negative comments from online consumers than competing Japanese brands, according to an analysis of consumer opinions collected from automotive review websites by Biz360, MarketingCharts reports.
The research, which aggregated a year’s…
Email, news gathering and paying bills continue to be the most widely used online activities among U.S. adults, but downloading TV programs, watching videos and making web phone calls posted the biggest overall growth, according to data from Mediamark Research…
