Paramount Fires WPP Media, Its Longtime Agency Of Record, In Cost-Saving Move Amid Skydance Merger Review

Paramount fired its media agency WPP Media, formerly GroupM, amid cost-cutting as it merges with Skydance Media. The abrupt decision to replace the agency with Publicis has drawn criticism and prompted questions about strategy, especially since there was no customary review period. Annual billings from WPP Media were reported at $600 million, though the exact savings remain unclear. The merger, which seemed certain earlier in the year, now faces challenges amid political tensions, including President Trump’s opposition to CBS News.