• August 6, 2009

Interpublic's Mediabrands unit this morning officially announced the formation of a new media services agency unit focused on so-called "hyper-local" media. The unit, known as Geomentum, has been in development for two years, and has a roster of new, unnamed clients, and officially launches with an estimated $2 billion in local media billings, much of which is derived from its integration with Mediabrands' existing local media specialty shops: newspaper buying giant NSA Media; Yellow Pages and local search specialist Wahlstrom; and out-of-home unit Outdoor Services. Led by a team of former retail marketing executives, including Geomentum CEO Dave Walker, the new unit's focus will be highly strategic, and will utilize new state-of-the-art technologies, including advanced modeling systems that seek to leverage the same kinds of supply chain management techniques that have been revolutionizing the retail industry, but for local media. Geomentum launches with a team of more than 500 employees, including 60 full-time analysts, and more than 100 hyper-local buyers.