The local heads of four of the five major media agency holding companies have failed to answer questions about whether they operate ‘value banks’ and other controversial media rebate practices in Australia.

An ANA report released yesterday claims the US ad industry faces “systemic non-transparent business practices” in terms of media owners providing “kick backs” to agencies.

But asked whether they operate similar media rebate, media credit or value bank practices locally, the heads of major holding groups Dentsu Aegis, IPG Mediabrands, Omnicom and Publicis Media all refused to comment.

Read the full Mumbrella article here.