Report: Google Strikes Upfront Deal with Magna Global
ADOTAS (via USA Today) – Google struck an “upfront” deal with Magna Global, one of the world’s largest advertising buyers, the latest effort by the Internet search leader to win more of the marketing dollars that traditionally pour into TV each year.
Magna Global, a unit of Interpublic Group that oversees $37 billion in annual ad spending, committed about $100 million of client marketing money to Google properties, including YouTube, its online display ad network and mobile platform.
The deal lasts a year and may be renewed if the partnership goes well. This is the first time Magna has struck such an agreement with Google. For its part, Google signed similar deals last year with other agency ad buyers MediaVest and Publicis Groupe’s DigitasLBi and Razorfish.
EDITOR’S NOTE: A Google spokesperson confirmed today that the two sides have struck a deal, but would not confirm the dollar amount. Adotas is awaiting a response from Magna Global’s press representatives.
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