TeleVest gets Paramount buys

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Paramount Pictures has moved its network broadcast and cable TV buying, plus syndicated TV buying, to D'Arcy Masius Benton & Bowles' TeleVest unit from Ogilvy & Mather. Paramount, a division of Viacom, spent about $62 million buying those media last year, according to Competitive Media Reports. Spot TV buying is in-house. Through June of this year Paramount had 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 Focus Media, Los Angeles. TeleVest also does the network buying for Procter & Gamble. The media unit's executives developed a close relationship with Paramount when TeleVest brokered a deal last year in which P&G and Paramount develop TV shows. TeleVest is the nation's biggest buyer of network TV time (an estimated $1.2 billion last year), 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.

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