Paramount, a division of Viacom, spent about $62 million on those media last year, according to Competitive Media Reports. O&M is expected to retain spot TV buying. Through June, Paramount spent about $25 million on network and syndication, and approximately $21 million in spot, according to CMR.
TeleVest is also getting Paramount Home Video for network broadcast and cable TV buying and syndication. That account, with billings under $1 million, has been at media independent Focus Media, Los Angeles.
TeleVest also does the network buying for Procter & Gamble Co. The media unit's executives developed a close relationship with Paramount when TeleVest brokered a deal last year between the studio and the package-goods giant. In that alliance, P&G and Paramount develop TV shows.
For TeleVest, the nation's biggest buyer of network TV time just got bigger. TeleVest bought $1.2 billion worth of time on the broadcast networks last year, Advertising Age estimates. O&M was ranked No. 6, buying $767 million of network time.
TeleVest is the second largest buyer of syndicated TV time, and the eighth largest spender on the national cable TV networks.
Copyright November 1996, Crain Communications Inc.