Interpublic Group's Mediabrands – consisting of UM and Initiative, and named
Media magazine's agency holding company of the year for both 2010 and 2010 – is realigning to fit what
IPG calls a new "client-centric" strategy. As part of the changes, its Mediabrands Ventures unit will be absorbed into Mediabrands itself, with Ventures CEO Matt Freeman moving to IPG's McCann
Erickson in the new post of vice-chairman, global chief innovation officer.