"Grey has signed an agreement with us," it quoted Gintaras Barauskas, Age Com's partner in the Baltics, Ukraine and Russia, as saying.
However, Inorek & Grey's main shareholder denies these changes, the paper wrote.
Barauskas would not disclose what kind of agreement Grey Worldwide has signed with Age Com. "The situation will be clearer in the fall," he said.
In Lithuania, Age Com owns the advertising agencies Adell Taivas Ogilvy, Media House, Via Media, Trendmark and Indiana. It is said that companies representing the international advertising chain Ogilvy, including Adell Taivas Ogilvy in Lithuania, will be Grey Worldwide's new partners in the Baltics.
The possible end of partnership with Grey Worldwide is not the only management change at Inorek & Grey. Tautvydas Musteikis, a shareholder of Inorek & Grey, is exiting the company. Musteikis is also stepping down as the CEO of the public relations agency GCI Coh&Wolfe, a post he has held since 2011, but is staying on as a shareholder.
