Exec Denies Media Giant Is 'Competing' With Agencies

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NEW YORK ( -- AOL Time Warner's co-chief operating officer today said the company's "global marketing" arrangements across its media portfolio are worth about $1 billion.

Speaking at Credit Suisse First Boston Media Week, Bob Pittman didn't specify if the $1 billion represented the total worth of the deals to the company in 2001 or if it encompassed multiyear values.

Previously, executives within the company had generally estimated value of these cross-platform deals over several years.

'Not competing'
While he said these arrangements were set up at the top executive levels of the companies involved, he insisted later during a question-and-answer session that AOL Time Warner was "not competing at all" with advertising agencies.

"We work very closely" with the agencies, Mr. Pittman said, pointing out that many shops now seek to

do their own cross-media deals.

Advertiser deals
AOL has multimedia deals with advertisers including Kellogg Co., Kraft Foods, Diageo's Burger King, DaimlerChrysler and eBay, among others.

Rival Viacom has signed deals including a multimillion-dollar arrangement with Procter & Gamble Co., and News Corp. has an arrangement with Tricon Global Restaurants, parent of Pizza Hut, KFC and Taco Bell.

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