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'MONEY' MAGAZINE TO NAME DEUTSCH AGENCY OF RECORD

Financial Magazine to Launch New Trade Campaign

By Published on .

NEW YORK (AdAge.com) -- Time Inc.'s Money magazine said it will name Deutsch as its agency of record. The move marks the first such agency assignment for the 2 million circulation title -- the largest in the personal finance category -- in some years.

New campaign
Mike Dukmejian, publisher of Money, said the specifics of an upcoming campaign remained undecided, but would be directed primarily toward trade publications. Like many publishers in the business and financial niche, he spoke of a desire to position Money to grab more advertising outside of its endemic financial category, citing the title's substantial total audience and strong demographics, which he likened to those of Conde Nast Publications' The New Yorker.

"We want to talk about the non-investing side of this audience," Mr. Dukmejian said. "Deutsch had a strong idea of what we needed to do to enhance our position."

Mr. Dukmejian came to Money last fall, after his former Time Inc. title Mutual Funds was shuttered. The upcoming Deutsch campaign will be the first of his tenure.

Executives familiar with the matter said that other agencies considered for the assignment included Cossette Post and Mad Dogs & Englishmen. Deutsch is part of the Interpublic Group of Cos.

Troubled category
The personal-finance category suffered through severe stress when the stock market boom of the late '90s faded, and a host of key titles -- Meredith Corp.'s Family Money, Bloomberg Personal Finance and independent Individual Investor -- shuttered as the ad base evaporated.

But Money and Smart Money, a co-venture between Hearst Magazines and Dow Jones & Co., have both eked out ad page gains this year, with Money posting a 9.7% page increase to 635.2 through September, and Mr. Dukmejian said the title was tracking to remain positive for the remainder of the year. Nevertheless, Money -- like other magazine focusing on business and finance -- remains far off its boom-time highs. For the first nine months of 2000, it notched 951.2 ad pages.

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