The Wall Street Journal Europe has reported that Coca-Cola Co may name a new advertising agency for its US media account this week.

Citing "veteran marketing executives" as the source, the newspaper says that the account, worth US$350m, could change hands very soon. According to the Journal, the sources said the company is frustrated with traditional advertising, and "agencies contending for the business have been asked to demonstrate they can take Coca-Cola well beyond purchasing 30-second TV spots."

The account is currently handled by three companies, Publicis Groupe's Starcom and MediaVest, and Interpublic Group's Universal McCann. Other companies bidding for the account include Aegis Group's Carat and WPP Group's MindShare.

A spokesman for the company declined to comment to the Wall Street Journal on the current status of the review.