Philippine conglomerate creates media agency

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MANILA--The Lucio Tan group of companies, including Philippine Airlines and Asia Brewery, has formed its own media buying agency.

The new company, Basic Holdings, will handle all the media buying requirements of the Tan companies, according to Basic Holdings President Louie Guison. The Tan group has an annual advertising placement of about $50 million.

Advertising, however, will remain with Tan's team of ad agencies--Jimenez/DMB&B, J. Romero & Associates and Ogilvy & Mather, says Mr. Guison, former marketing executive of Tan's Fortune Tobacco.

Aside from Asia Brewery and Philippine Airlines, Tan controls FortuneTobacco, the Philippines' largest cigarette manufacturer, and Allied Bank, one of the country's largest commercial banks. Tan also has stakes in a host of companies both here and offshore in sectors such as retailing and agro products.

Copyright December 1999, Crain Communications Inc.

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