Greek broadcaster Antenna has spoken out about the decision by Public’s Groupe to close Leo Burnett Athens, saying that it will cost media owners millions of euros.
Leo Burnett Athens had booked campaigns for clients such as Procter & Gamble and Samsung, before the agency office was closed after it initially entered a pre-bankruptcy process last summer.
A statement by Alexander Holland, COO of ANTENNA GROUP’s Greek operations, said: “This is the first default of an international client in the media industry since the beginning of the financial crisis. It puts high pressure on the country’s entire media sector when an important advertising agency fails to meet its obligations.
“It is unprecedented for an advertising agency to treat its trade partners in this way without any reasonable explanation of the decision to default on due payable amounts for advertising broadcasts,” added Holland.
ANTENNA is said to be considering a range of options to recover outstanding sums from Public’s.
(source: the drum, The Guardian )
See all the latest news from Greece and the world at Greekreporter.com. Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!
