WPP merges MEC and Maxus

WPP’s GroupM has consolidated MEC and Maxus amid what it described as “a very competitive marketplace” with cost savings from the merger to be used to fund the expansion of digital ad agency Essence.

The agency, which has not yet been named, will be led by MEC’s global chief executive, Tim Castree.

Group M’s portfolio will now comprise three global media agency networks: Mindshare, MediaCom and the new company, plus digital agency Essence.

Meanwhile, the plan to expand Essence will see it expand into six new markets over the coming year while the services it offers will also be opened up to include more traditional media.