Advertising Industry
Industry: Email Alert RSS FeedLate News; Wendy's to spin off Tim Hortons in IPO.(Wendy's International Inc., initial public offering)(Lachlan Murdoch resigns from The News Corporation)(Procter & Gamble Co. signs contract with Team One Advertising)
Advertising Age, August, 2005
[Dublin, Ohio] Facing intense pressure from investors to restructure its restaurant portfolio, Wendy's International said it would offer 15% to 18% of its Tim Hortons doughnut chain in a public offering. The company also plans to restructure some of Wendy's operations, repurchase $1 billion of shares and repay $100 million in debt in a move similar to what McDonald's did in 2003. Management rationalized the move citing the maturing of its flagship chain and a potential conflict between the two brands at breakfast.
Lachlan Murdoch steps down from News Corp.
[New York] Lachlan Murdoch, the 33-year-old son of News Corp. chief Rupert Murdoch, is quitting the company to return to Australia with his wife and child, according to a surprise announcement July...
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