• Ad Age , Wednesday, October 8, 2008 10:02 AM

Hyundai Motor America has purchased all of the six units abandoned by General Motors for next February's Academy Awards telecast. It may feature the upmarket Genesis.

As a sponsor of the Oscars for the past 11 years, GM spent some $13.5 million in ads for the event last year, or 10% of ABC's estimated $130 million annual award haul, according to Academy Award insiders. GM had also paid a premium to be the exclusive automotive sponsor of the Academy Awards telecast; it's unclear if Hyundai has also paid for such exclusivity.

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