• by Amy Corr  @MediaPostOTL, June 1, 2015

Y&R confirmed it was named agency of record for the United States Navy. Lowe Campbell Ewald previously handled the account for close to 15 years. Beginning July 20, Y&R will lead lead a group of agency teams that will handle digital and mobile platforms, account and media planning, research, public relations and events. The account will be handled from New York, Chicago, Kansas City, Memphis and Nashville offices. According to the Department of Defense, the U.S. Navy contract is valued at $84.4 million for one year. The contract also comes with four one-year, optional extensions that could bring the total value of the account to $457.4 million by the contract's 2020 expiration date, if all options are renewed. According to Kantar Media, the Navy spends about $40 million a year on advertising. "We are now entrusted with one of our country's most important government assignments," said David Sable, Global CEO, Y&R. "This is a chance to not only do good work, but also to do good in the world."