It's the type of synergistic deal often discussed at major media companies but rarely accomplished.
The deal is worth about $15 million, said an executive with knowledge of the plan. Besides print ad support, there will be a media buy on various Turner cable TV networks.
With MasterCard's creative account currently in review, no date has been set for the promotion. But it's expected to run later this year and last about six months.
"We're very excited about it," said Nick Utton, MasterCard's senior VP-marketing. "It's an outstanding idea that's under heavy discussion."
For MasterCard, the program-called "Experience of a Lifetime"-brings to life the benefits of its newly developed tagline, "The future of money."
"The challenge is how to make `The future of money' accessible and fun to the consumer today," said Holly Arnowitz, senior VP-strategic marketing at Turner Broadcasting Sales' marketing solutions group.
MasterCard holders will be credited with a "cyberdollar" for each dollar charged on the card. These cyberdollars can be used to bid on various experiences.
Among the possibilities being discussed: dinner with Ted Turner and Jane Fonda at their Montana ranch; a walk-on role on "Seinfeld"; lunch with Clint Eastwood; being Madonna's personal assistant for a day; and attending a Time editorial meeting as staffers discuss who will be its Man of the Year.
"Those things may not be exactly what's offered," Ms. Arn-owitz said, "but they're certainly the kinds of experiences we're talking about. We're lining up experiences from throughout Time Warner: music, movies, TV, magazines."
Turner also hopes to tie in some of the experiences to athletes involved in the Goodwill Games, which it sponsors.
"This is just one of our ideas," says Steve Heyer, Turner Broadcasting Sales president for worldwide sales, marketing, distribution and international networks group. "We're looking to work with certain advertisers who are willing to step up to the plate with us, and create marketing plans that are fresh and innovative for them."