Sound system company Bose has kicked off a global media consolidation review, according to sources.
Per RECMA, Bose spent an estimated $275 million on ads globally in 2012. Most of that spending occurred in the U.S., according to Kantar, which estimated the company spent $216 million here in 2012 and about $206 million in 2013.
In the U.S., the company’s media assignment has been handled by MediaHub/Mullen, the media operation within Interpublic Group shop Mullen. Sources confirm that MediaHub will team with Initiative, part of IPG’s Mediabrands to pitch the global business. The shops did not return calls seeking comment.
It’s also understood that entities from GroupM and Omnicom are making pitches for the business. Those groups did not respond to queries about the review.
According to Forbes, Framingham, MA-based Bose ranks in the top 200 among America's privately held companies. Forbes estimates that the company had $2.5 billion in revenue last year.
A Bose rep did not respond to a phone call inquiring about the review.