(Reuters) - The world’s largest advertising company WPP Plc’s (WPP.L) is preparing to consolidate some of its businesses in a bid to keep pace with the industry’s digital shift, the Wall Street Journal reported on Sunday.
The company, under its new boss Mark Read, is considering a merger between Young & Rubicam and WPP’s digital-ad firm VML, putting the combined group under the leadership of VML CEO Jon Cook, WSJ reported, citing sources.
There are talks about having the group’s direct-marketing company Wunderman work with its creative firms to provide access to consumer data to help them craft more relevant ads, the WSJ reported, citing a source.
The market leader has been hit hard in the last year as clients have increasingly turn to online platforms such as Google and Facebook to reach consumers.
The group is also recovering from the departure of its founder and veteran CEO Martin Sorrell who left in April after complaint about personal misconduct, which he denied.
WPP was not immediately available to comment on the report.
Reporting by Mekhla Raina in Bengaluru; Editing by Edmund Blair