Auto retailing giant Carmax is conducting a search for a media agency, sources confirmed Friday.
The company spends an estimated $60 million annually on ads. There is no incumbent as the company has handled much of its media buying in house up to this point, according to sources.
The media agency search follows by just a couple of months the company’s last creative agency review. In November it selected McKinney, part of Cheil, as it new lead creative shop. McKinney replaced Silver + Partners, which did not participate in that review.
The creative review followed the hiring of a new CMO at the auto retailer. Jim Lyski took on that role last August after serving in a similar capacity at Scotts Miracle-Gro.
A Carmax rep declined to confirm or deny that it was conducting a media agency search. “We have no information to provide,” the rep said, via an email exchange.