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Reader's Digest Association's stock price jumped 9.83%, up 2.56 points to $28.62, at the end of the day Jan. 15 following reports that it was in talks with Time Warner about a possible merger of parts of the two publishing and direct mail giants. Time Warner's stock price was up 3.78%, rising 2.25 points to $61.81.

DDB Needham Worldwide, New York, has dropped out of the Bermuda Department of Tourism's review for its $12 million to $15 million account. The agency was the incumbent.

UNUM Corp. and Provident Cos. are said to looking to Saatchi & Saatchi, New York, and Goodby, Silverstein & Partners, San Francisco, as candidates for the newly merged account of the insurance providers. Saatchi is the incumbent on Provident, estimated at $20 million; Goodby currently handles UNUM, which spends about $5 million.

Marine Midland Bank to Partners & Shevack/Wolf, New York, from Eric Mower & Associates, Buffalo, N.Y., for its $25 million account.

Anheuser-Busch plans to start the roll out of its tequila-flavored beer Tequiza on Feb. 3. The brew will be positioned against Mexican import Corona Extra.

Quaker Oats Co.'s Golden Grain division has narrowed the review for its $13 million advertising account for a new product to Gardner, Geary, Coll & Young, San Francisco, and Suissa/Miller, Los Angeles. Select Resources International, West Hollywood, Calif., is conducting the review.

Copyright January 1999, Crain Communications Inc.

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