Omnicom's CFO calls losing PepsiCo to Publicis "a disappointment"

Speaking at the Goldman Sachs Communacopia conference, Omnicom CFO Phil Angelastro called the loss of PepsiCo after 25-plus years "an unfortunate one... certainly a disappointment from our perspective - you cannot sugarcoat it," and said the holdco is running a "detailed deconstruction" of how it happened. ComVergence pegs PepsiCo's core global media spend at roughly $1.8 billion, but Madison & Wall estimates Omnicom's actual fee revenue at closer to $100 million. Coca-Cola's media business is now in play after Publicis relinquished its North America account.