LG Electronics is calling a review of its global media business, Campaign has learned.
Havas Media Group has held the global LG media account outside the US since 2013, when the Korean-based electronics and appliance giant shifted the bulk of global media duties over from Mindshare.
However, Campaign has learned that the incumbent will not be participating this time around. A person with knowledge of the matter said Havas decided to resign the business six weeks ago. However Havas Media will extend its contract by six months to enable LG to manage the pitch.
In a statement to Campaign, Havas noted: "The relationship between Havas Media Group and LG Electronics has been a long and fruitful one, and one that Havas Media has placed high value in.
"However, we have made the strategic decision not to take part in the upcoming review."
R3 Worldwide estimates LG’s global media spend at about $800 million.
Campaign has contacted LG for comment. It has not confirmed the review but noted Havas currently is continuing to work for them.
In 2016, LG Electronics USA chose Horizon Media as its agency of record for communications planning and paid media. It is not yet known whether the US will be involved in the upcoming review.
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