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Greek broadcaster slams decision to close Leo Burnett Athens

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By The Drum Team, Editorial

February 14, 2012 | 1 min read

Greek broadcaster Antenna has spoken out about the decision by Publicis 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, ChieCOO 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 broadcast,” added Holland.

ANTENNA is said to be considering a range of options to recover outstanding sums from Publicis.

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