Bob Liodice, the chief executive of the Association of National Advertisers, said in an interview with Campaign that he had expected agency groups to respond angrily to its hard-hitting report but urged them to “digest” it “for a while”.

The ANA report, which was carried out by corporate investigators K2 Intelligence, found “non-transparent” business practices were “pervasive” across the “spectrum” of US media agencies, but it did not name names.

Read the full Campaign article here.