When Michael Eisner hands over the keys to Disney's Magic Kingdom on Friday after 21 years of running the media giant, he'll leave behind a stormy legacy -- brilliant early success mixed later with executive turmoil, an operational slump and a shareholder revolt. But industry experts say that ironically, as Eisner says farewell as Disney's chief executive officer, the company has begun to return to the double-digit earnings growth that marked his first decade running Disney with late president Frank Wells. Read the whole story...
L.L. Bean has handed its $27 million creative account to WPP Group's JWT, New York, following a review, according to executives familiar with the matter. JWT bested Omnicom Group's DDB, New York, and Interpublic Group of Cos.' Hill Holliday Conner Cosmopolus, Boston. Read the whole story...
Interpublic Group today said the material restatement resulting from its six-month internal financial review totaled $550 million for the period of 2000-04. Roughly half of that reduction in earnings and shareholder equity came before 2002, IPG said. Read the whole story...
A cable network specializing in vintage movies known for classic lines like "Here's looking at you, kid," is hoping to get more kids looking at it. The network is TCM, formally Turner Classic Movies, which since its introduction in 1994 has presented films like "Casablanca," the source of the line above, in uncut and commercial-free form. Long a favorite of older viewers drawn to its movies from the golden age of Hollywood, TCM is now trying to appeal to younger film fans. Read the whole story...
Star TV, Rupert Murdoch's Asian broadcaster, acquired a strategic stake in an Indonesian television network Thursday, securing a place in one of Asia's fastest-growing markets, the two companies said. Star TV, a satellite and cable operator based in Hong Kong, will buy 20 percent of the national network ANTV, giving it a firmer foothold in Indonesia, Asia's third most populous country. Star TV pay-television services are already available on cable and satellite in Indonesia. Read the whole story...
Madison Avenue is getting nervous about the mood in Washington. Lawmakers on Capitol Hill are being pushed to take a harder line with what advertising industry critics see as growing more intrusive and pervasive, experts say. Read the whole story...