Hi and welcome to Insider Advertising for June 8. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:
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- Lerma has split off from The Richards Group, the biggest independent ad agency, Lindsay Rittenhouse reported.
- Lerma accelerated the split after a controversy last year where The Richards Group founder made racist comments.
- Its split has helped it win bigger accounts, including some from The Richards Group.
- Editorial staffers at The Atlantic said Monday they plan to form a union, Steven Perlberg reports.
- About 85 staffers are eligible to join the unit, organizers said.
- A wave of US newsrooms have mounted union drives in recent years.
- Tracer, a data software startup that was incubated by ad agency VaynerMedia, raised $9.9 million in funding, Patrick Coffee reported.
- Partner Gary Vaynerchuk brought on investors like Marc Lore, who led the seed round, and Kevin Durant.
- The firm helps clients like Condé Nast and Sanofi collect and organize their consumer data.
Other stories we’re reading:
- Google agrees to change its ad practices after France’s antitrust watchdog fined the tech giant $267 million (Insider)
- S4 Capital increases revenue forecast for 2021 as advertising demand grows (Adweek)
- Shopify has seen a sudden rush of departures despite massive growth. Insiders say CEO Tobi Lütke’s management style has helped spur the turnover. (Insider)
- Levi’s CEO says Amazon’s ‘$20 an hour’ wages are forcing the jeans maker to rethink worker pay amid the tight labor market (Insider)
- Washington Post publisher accuses the Biden Justice Department of ‘unprecedented assault on American news organizations’ (Insider)