On Monday, Coca-Cola Co. moved its massive media buying account to Publicis' MediaVest unit, effectively consolidating its media account within Starcom MediaVest Group. Starcom had already handled media planning.
The decision was a blow to Coca-Cola Co.'s long-time media buying shop, Universal McCann. WPP's MindShare unit was also a finalist in the review.
And while the Carat team was also disappointed to lose the prestige media account pitch, the agency at least will get a consolation prize: Gagen, who was director of strategic media initiatives-worldwide media & alliances at Coca-Cola Co.
Although the nature of Gagen's role at Carat was unknown at presstime, a Carat insider said he and Carat had been in talks for some time, and that the move was not a direct result of Carat's Coca-Cola account pitch.