• by Wayne Friedman , David Goetzl  @dgoetzl, June 24, 2008

PIC Media Group, a firm that specializes in buying 10-second spots for clients on a slew of syndicated programs, is separating itself from parent Interpublic via a management buyout.

The buyout, led by President and CEO Steve Berger, will allow PIC Media--known as PIC-TV until last year--to become an independent operation, sources said.

The firm was affiliated with Interpublic Group's Initiative agency, but has been operating separately.

It's unclear why Interpublic or PIC would pursue a severance, but sources said the firm lost money for the first time last year, and recently suffered a key account loss.

Under that dynamic, IPG would be able to remove the business from its books, and PIC's management would be able to work aggressively to turn it around and reap the full benefit.

The cost of the transaction is also unclear.

IPG executives declined comment. A call to Berger, PIC president and CEO for eight years, was not immediately returned.

PIC Media changed its name from PIC-TV last November, as it looked to expand its business of buying the quick-hitting spots beyond TV. The aim was to capitalize on the increasing use of 10-second spots as pre-roll options in broadband and mobile programming.

The opportunity to gain a foothold in the "pre-roll" buying business would seem to be a principal reason for PIC management to pursue the buyout. Seemingly in its favor, PIC could persuade clients to repurpose their 10-second TV spots in the form of "pre-roll" online, without having to produce new creative.

PIC has developed a core competency in buying sponsorships for clients of a show's "closed captioning" feed. So, a star in a sitcom or host on "Entertainment Tonight" would say that "closed captioning" is "sponsored by"--and a 10-second spot would follow, inside the program.

PIC--which bills itself as the "industry leader" in buying :10s--has worked with leading advertisers such as General Motors, and purchased spots in syndicated series such as "Dr. Phil" and "Live with Regis & Kelly," as well as sports programming on the Fox regional networks.