CORRECTED - Interpublic, WPP agencies win MillerCoors account

(Corrects lead to show Kinetic is an agency of WPP)

NEW YORK, Nov 21 (Reuters) - MillerCoors has picked two Interpublic Group (IPG.N) agencies, Initiative and DraftFCB, along with WPP Group's (WPP.L) Kinetic to plan and purchase the roughly $400 million it spends each year on advertising.

The three media agencies will create a partnership called MC Media to lead the media planning and buying account, MillerCoors said on Friday.

MC Media will be based in Chicago, and will handle media duties for everything except digital and Hispanic work, according to MillerCoors, a venture between Molson Coors Brewing Co (TAP.N) and SABMiller Plc (SAB.L)that combines their U.S. operations,

MillerCoors plans to name an Hispanic media agency by the end of the year. Its digital media planning and buying, along with creative assignments, will be handled by Publicis Groupe's (PUBP.PA) Digitas and Microsoft Corp's (MSFT.O) Razorfish. (Reporting by Paul Thomasch, editing by Leslie Gevirtz)