Diageo creates net for $200M in TV ads.(Brief Article)

Advertising Age, May, 2002 by Friedman, Hillary Chura And Wayne

Frozen out of American network TV for now, Diageo, the world's largest spirits concern, is cobbling together its own network of unwired TV stations to run $200 million in TV ads during each of the next five years. In exchange for lower prices, stations would get consistent revenue as they fight for dollars in one of the tightest ad markets since the Depression.

The move, announced at the Electronic Media/Advertising Age Upfront Television Advertising Summit last week (see story, P. 75), would raise the financial stakes for TV liquor advertising, which has seen only $118 million in measured media for cable and spot TV since Joseph E. Seagram & Sons broke the industry ban in 1996.

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At the same time, a Diageo spokesman said the...

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