CNN, Fortune, Time pick Mediacom for joint account

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Time Warner, the world's largest media entertainment company, has tasked MediaCom, the media network affiliated to Grey, to handle the first official media planning and buying account for its CNN, Fortune and TIME brands in Europe, Africa and the Middle East.

The allocation of the $8m-$10m business - for both consumer and trade advertising - marks the first time the three Time Warner companies have joined marketing forces in Europe. Previously, there had been no formal media arrangements for any of them. Co-ordination and planning will be undertaken by MediaCom London. MediaCom already handles Warner Bros' theatrical business in Europe (out of London) and the U.S. (from New York).

The three brands are currently implementing several initiatives specific to Europe as part of their strategies of regionalization. TIME recently mounted its first TV campaign across Europe, Africa and the Middle East via London agency Bartle Bogle Hegarty; CNN will launch this summer individual programming schedules for Europe and Fortune is looking to raise its profile among European opinion- formers and advertisers.

Copyright April 1997, Crain Communications Inc.

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