PepsiCo (PEP) selected Publicis Groupe as its exclusive lead global media partner, unifying media strategy, planning, activation, data and technology operations, Adweek reported Wednesday.

Publicis will withdraw from the ongoing pitch for the remainder of Coca-Cola's (KO) global media business following the PepsiCo appointment, according to the report.

Publicis will replace Omnicom's (OMC) OMD as PepsiCo's global media partner, while Omnicom will retain select creative, sports and public relations work, the report added.

PepsiCo, Coca-Cola and Omnicom did not immediately reply to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)