TV Guide's Loughlin quits to join Hearst
John P. Loughlin, president of the TV Guide Publishing Group, resigned to join Hearst Magazines as exec VP-general manager, effective Oct. 24. At Hearst, Mr. Loughlin will oversee circulation, Web operations, finance, manufacturing and distribution strategy. He was also named senior VP of Comag Marketing Group, the joint venture between the Hearst Corp. and Conde Nast Publications, and VP of Communications Data Services, a data-management division of Hearst. Mr. Loughlin succeeds Mark F. Miller, whose retirement Hearst announced Sept. 6, and will report to Cathleen Black, president of Hearst Magazines. Mr. Loughlin will remain in his current post long enough to oversee the introduction of the revamped, larger version of TV Guide on Oct. 17. AdAge.com QwikFIND aaq91y
Penthouse plans expansion into TV, wireless content
The Penthouse Media Group locked down $48 million in private financing to pay for an expansion into TV and wireless delivery, potentially reviving the formerly rough-and-tumble competition for soft-core-porn profits. Penthouse said it will use the money to build multiple high-definition on-demand and subscription TV properties in a direct challenge to Playboy Enterprises, which operates Playboy TV and the Spice channels in the U.S. and abroad. Penthouse filed for bankruptcy protection two years ago and emerged as a private company led by CEO Marc H. Bell. "It's no longer a hard-core magazine," said Mr. Bell. AdAge.com QwikFIND aaq92g
Lowe's hands $315 million business to Omnicom shops
No. 2 home-improvement retailer Lowe's awarded its $315 million creative and media buying and planning account to BBDO, New York, and OMD following a review. The Omnicom Group shops beat sibling TBWA and Interpublic Group of Cos.' Deutsch and incumbents McCann Erickson and Universal McCann, all in New York. For BBDO and OMD, the win follows on the heels of its Omnicom's $600 million Bank of America victory, in which the agencies played a major role. The loss of BofA and Lowe's have added to mounting problems for Interpublic, which last week said it will restate earnings for 2000 to 2004. AdAge.com QwikFIND aaq91u
P&G to sell SpinBrush at $370 million loss
No matter how you spin it, Procter & Gamble Co. will lose $370 million to $400 million on Crest SpinBrush, a product it agreed last week to sell to Church & Dwight Co. for $75 million, plus up to another $30 million in contingency payments based on short-term performance. That's only 15%-22% of the $475 million P&G ultimately paid to acquire the product in 2002. At one point, Spinbrush was a more than $200 million global business. But sales in the fiscal year ended June 30 were only $110 million, 80% of them from North America. AdAge.com QwikFIND aaq92j
AAF names seven to Advertising Hall of Fame
The American Advertising Federation last week named seven to its Advertising Hall of Achievement: Tim Armstrong, VP-advertising sales, Google; Laura Desmond, CEO, MediaVest USA; David Jones, CEO, Euro RSCG Worldwide; Jacki Kelley, senior VP-advertising, USA Today; Eric Silver, exec VP-executive creative director, BBDO, New York; Heidi Ueberroth, exec VP- global media properties and marketing partnerships, NBA Entertainment; and Liz Vanzura, global marketing director , General Motors Corp.'s Hummer. The group will be honored Nov. 15 in New York.
Former adman Kornhauser dies at 73
Henry Kornhauser, an ad executive and business partner with creative directors including former BBDO North America Chairman Phil Dusenberry, died Sept. 14 in New York at age 73. The cause of death was myasthenia gravis, a neuromuscular-transmission disorder. Mr. Kornhauser was until December VP-creative services at package-goods marketer Church & Dwight. In the 1990s he was chairman of Partners & Shevak, New York, and earlier in his career was president of Clyne Dusenberry. "Henry was a prolific, passionate marketing man," said Joey Cummings, founder of Joey Co., Brooklyn, N.Y., who worked for Mr. Kornhauser on Church & Dwight brands.