WPP subpoenaed in DoJ advertising probe

WPP has become the latest major advertising group drawn into the US Department for Justice’s probe into video production practices across the industry.

Shares in the company dropped by 1 per cent on Monday afternoon after WPP confirmed that three of its subsidaries have received subpoenas from the DoJ’s Antitrust Division, though they soon picked up from the lows. At pixel time, they were down 0.7 per cent at £17.69.

The company said it is “fully cooperating with the enquiries”.

Last week, rivals Omnicon and Publicis both confirmed that some of their subsidiaries had received subpoenas in connection with the investigation, while Interpublic Group was contacted earlier this month.

The investigation is looking at whether large advertising agencies have manipulated the bidding process for clients’ video production work to favour in-house teams, and comes amid growing concern over the transparency in the industry.