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Fourth quarter profits for Valassis Communications fell 66 percent, due in large part to costs related to its proposed acquisition of Advo Inc. The company also experienced slower sales in the fourth quarter.
Net profits in the quarter ended Dec. 31 dropped to $6.9 million from $20.3 million in the same quarter the previous year, writes DM News. Revenue in 2006 was down 7.7 percent to $1.04 billion, with profits of $51.3 million.
Valassis sued Advo to avoid completing the $1.3 billion deal it made last August, claiming the company misrepresented its financial health. Advo filed a countersuit, and the companies eventually agreed to dismiss litigation. Advo dropped its asking price from $37 dollars per share to $33 per share, while Valassis agreed to acknowledge that it had found no evidence on which to base its claim of having been defrauded by Advo.
Marketers have unleashed their holiday promotions earlier than ever this year, with many hitting the stores well before Thanksgiving. But Sirius XM isn’t launching most of its 24-hour holiday music channels until turkey day or later.
The newly merged company…
October advertising revenue plunged for The New York Times Co. and McClatchy, despite some growth in online ad revenue.
The New York Times saw ad revenue plummet 17.2%; online ad revenue increased 5.3%, writes MediaPost. Classifieds have fallen 27.3% year to…
The switch to digital television arrives in less than three months, and to remind consumers of the transition, the National Association of Broadcasters is running a campaign across PumpTop TV’s network of screens at gas stations.
The spot began airing…
Through the first half of the year, automakers have slimmed their ad spending by 10% to $6.1 billion, according to Nielsen Monitor Plus.
General Motors slipped 6% to $1.2 billion, while Ford Motor cut ad spend by 22% to $954…
Getting real-time, 24/7 online access to company news and reaching responsive and efficient PR representatives still rate high on journalists’ wish-lists, but reporters are increasingly sourcing stories from new forms of media as well, according to research from Bulldog Reporter and TEKgroup…
Some 20% of top brand marketers continue to send additional emails to consumers, even after they confirm requests from those consumers to “unsubscribe” from an email marketing list, according to a research study from Return Path, MarketingCharts writes.
Though the study,…
