PHD Thailand, the incumbent account holder, has confirmed it has lost the business.
The business, which is understood to be valued at US$3million, was awarded to Initiative following a media review for the region through an unofficial letter on 21 June. There was no pitch.
An official press statement is expected to follow shortly.
Last year, AirAsia shifted its media business in Malaysia from Carat to Mindshare, following a review.
In April this year, AirAsia appointed Phar Partnerships as its regional exclusive media and sponsorship sales agency. Phar Partnerships will create and deliver media campaigns for brands across the carrier’s extensive set of print, online, mobile and ambient media assets.
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