EVENTS & PROMOTIONS: INSIDE LINE: A-B DANGLES $1 MIL PRIZE FOR BALLOONISTS

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Anheuser-Busch announced the first Budweiser Cup, offering to pay $1 million to the first aeronautical team to go around the world non-stop in a balloon. A variety of balloonists already have announced plans to compete for the brewer's prize; the competition ends Dec. 31, 1999. Budweiser already sponsors the Bud One Airship, the Bud Light Micro Jet and the Budweiser Hot Air Balloon, which visit events throughout the year.

Tiger Toys and Nabisco this month offer a holiday "Shopping Spree Sweepstakes" for kids, with two grand prizes of a toy shopping spree in New York. The winners will have 10 minutes to grab as many toys and snacks as they can at an undisclosed toy emporium when awards are distributed in June. The contest, promoted on TV and on-pack, runs through March. Carlson Draddy, Westport, Conn., is Nabisco's promotion agency; Posnick & Kolker, New York, handles TV advertising for Tiger.

Petersen Publishing and Interstate Batteries are teaming for a sponsorship alliance involving Joe Gibbs Racing's Funny Car and Top Fuel teams racing in the National Hot Rod Association series. The deal also includes a Pontiac stock car

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