Published on .

Interpublic Group of Cos., New York, more than doubled its net income in the fourth quarter, while Young & Rubicam reversed last year's lose. At Interpublic, net income of $106.7 million was up 144.7% from the same time period last year. Gross income was $1.2 billion, a 10.2% increase over the restated gross income for fourth quarter '97. For full-year 1998, net income climbed 54.7% to $309.9 million. Gross income was about $4 billion, up 14% over the '97 restated gross income. Y&R reported fourth-quarter net income of $27.3 million vs. a pro forma loss of $23.2 million in '97. Revenue was up 5.2% to $426.7 million. For the full year, Y&R had pro forma net income of $88.2 million, up from $1.9 million a year ago. Revenue climbed 10.1% to $1.5 billion.

Retailer Lowe's reviews $100 mil acc't

Lowe's Cos., North Wilkesboro, N.C., put its $100 million account in review, citing its aggressive expansion plans. The home improvement retailer will pick five finalists this week. Incumbent Doner, Southfield, Mich., is vying to keep the account.

Clairol doles accounts to FCB, Kaplan Thaler

Bristol-Myers Squibb Co.'s Clairol unit is splitting its hair color brands between New York-based roster shops Foote, Cone & Belding and Kaplan Thaler Group, as expected. Clairol moved Natural Instincts hair color, an estimated $15 million account, to FCB and is expected to assign the remaining brands, spending about $20 million, to Kaplan Thaler. They include Glints, Lasting Color, Loving Care, Revitalique and Ultress. The reshuffling comes after Clairol split with Intuition Group (AA, Feb. 22).

Frito-Lay consolidates promotions at Frankel

Frito-Lay is consolidating all its promotional work at Frankel, Chicago. The work had been split between TL Partnership, Dallas, and Frankel. The consolidation follows Frito-Lay last spring naming a single worldwide ad agency, BBDO Worldwide, New York.

P&G ponders sell-off of Coast soap brand

Procter & Gamble Co. said it will explore selling its Coast soap brand in the latest move in a strategy to shed smaller brands with no potential for global expansion. Selling off Coast also would allow P&G to focus more on the Oil of Olay, Safeguard and Zest brands. Although profitable, Coast "is no longer a strategic fit," said Robert T. Blanchard, president of P&G's global skincare and cosmetics division. Coast didn't have any active advertising or an agency since P&G ended its relationship with Euro RSCG Tatham, Chicago, last month.

FCB San Francisco chief Boland exits

Jack Boland, president of Foote, Cone & Belding, San Francisco, parted with the agency, two months after FCB moved Geoff Thompson into a post above Mr. Boland as chairman-CEO and chief creative officer in San Francisco. Mr. Boland had run the office since earlier this decade, landing such accounts as 3Com Corp. and, while also being at the helm when FCB lost Levi Strauss & Co. to TBWA/Chiat/Day.

Ammirati to merge TV buying into Western

Ammirati Puris Lintas, New York, will merge its national and local broadcast buying operations into Western Initiative Media, another unit of Interpublic Group of Cos. Ammirati will retain 90 staffers; 15 others will move to Western. Sean Cunningham will remain Ammirati's media director.

Karmazin challenges agencies to end sweeps

CBS Corp. CEO Mel Karmazin last week challenged agencies and advertisers to end TV sweeps periods. Speaking at the American Association of Advertising Agencies Media Conference, Mr. Karmazin said advertisers and agencies have the power to stop the TV sweeps periods, which the networks stack with special programming to boost ratings and ad prices. He said ending sweeps wasn't the networks' responsibility. In addition, Mr Karmazin said demand for TV time is high and CBS might not make upfront deals if it can't get sufficient cost-per-thousand increases. He didn't say what those increases would be, but compared the millennium year to the U.S. Bicentennial year, noting prices rose more than 20% in 1976. Mr. Karmazin also repeated his oft-made proposition that he would be interested in buying NBC if federal rules allowed him.

DirecTV to offer national advertising

Direct broadcast satellite giant DirecTV will start airing national advertising March 1 and has hired Columbia TriStar Advertiser Sales as its sales rep, Electronic Media reported. Previously, DirecTV placed programming notes, subscriber information and promotions in the time it will offer advertisers. DirecTV currently delivers more than 185 channels to more than 4.5 million subscribers. It also plans to acquire PrimeStar and its 2.3 million subscribers.

Time Inc. biz info group reshuffles duties

Time Inc. President-CEO Don Logan is replacing Michael Pepe, former president of the Business Information Group and now Time Warner's VP for e-commerce, by splitting his responsibilities among three others. Jack Haire, 46, publisher of Time, will become president of the Fortune Group, over Fortune and Your Company. Fortune Publisher Jolene Sykes, 49, was named president of that title, and will report to Mr. Haire, along with Kathleen Kayse, publisher of Your Company. David Kieselstein, 35, VP-consumer marketing and development for Fortune, will become president of the Personal Finance Group, over Money and Mutual Funds magazine, as well as Mutual Funds newsletter and research business the Institute of Econometric Research.

Former Coke executive Horn heads to Pepsi

Pepsi-Cola Co. tapped former Coca-Cola Co. executive Stephen C. Horn for the new post of VP-portfolio brands. Mr. Horn spent 13 years at Coca-Cola working on U.S. and global marketing. He joins Pepsi from Citibank, where he was VP-director, global marketing. At Pepsi, Mr. Horn will oversee domestic marketing,

Most Popular
In this article: