That's on a pro forma basis -- the firm was formed in May. Company chairman Martin Sorrell says the firm intends to double revenue between 2109 and 2021.

The market research firm is out with a new report that spotlights nine midsize media agencies with billings of between $2 billion to $20 billion.

Stagwell will invest $100 million in the embattled holding company and Mark Penn will become its CEO and take a seat on the company's board. Wall Street was pleased to hear of the development.

The two-year analysis of U.S. reviews shows about one-third of reviewing clients conducted a single search for an integrated agency partnership and selected creative and media agencies from the same holding company.

WPP has added Cindy Rose, CEO of Microsoft UK, to its board of directors. WPP Chairman Roberto Quarta says her contribution will be "invaluable" as the company pursues a new growth strategy.

The agency has recruited Maree Prendergast as its new Global Chief Talent Officer. She is the first to hold the post since the agency's creation last fall, with the merger of Wunderman and J. Walter Thompson.

The appointment follows by about six months Engine's hiring of former UM U.S. CEO Kasha Cacy as global CEO.

The strategic media management consultancy is adding senior leaders in both the UK and New York, where it established an office late last year.

Chris Apostle is tasked with optimizing the agency's media operation to better drive business performance for iCrossing's clients, including Bridgestone, Charles Schwab, City National Bank, Humana and Microsoft.

Rocky Novak has been promoted to chief executive officer of Fallon Worldwide, succeeding Mike Buchner who steps into the role of chairman.