BCom3 Group's Starcom MediaVest
Group, Chicago, and TV and print media outlets are seeking financial relief now that Starcom's client, 2-year-old Destination Films, filed for Chapter 11 Feb. 16, according to executives. The Santa Monica, Calif.-based production and distribution company, which was forecast to have a $60 million annual media budget, is estimated to owe Starcom and media vendors between $1 million to $2 million in billings, according to an executive close to company. A Starcom spokeswoman said that through the "sequential liability" rule, the agency isn't responsible for money owed to the media. The spokeswoman did say Starcom is due money from Destination for media-planning services. Destination produced and distributed eight movies -- the most recent, "Beautiful," was released last September. Other films included: "Drowning Mona," "Thomas and the Magic Railroad" and "Whipped."
Copyright February 2001, Crain Communications Inc.