MIDDLE EAST
WORLD NEWS
Papers attract Slim pickings
Mexican billionaire Carlos Slim gives The New York
Times a $250 million bailout, while a former KGB
agent buys British title for just £1
more than $1.1 billion (Dhs4.4 billion) in
By PAUL McLENNAN/News Editor
debt over the next few years. The company
owns the namesake newspaper as well as
US/UK One of the world’s richest men is The Boston Globe and other local US titles.
pumping $250 million (Dhs918 million) into The move was announced in the same
the troubled New York Times Company, week as Alexander Lebedev became the
while Britain’s Evening Standard has been first Russian owner of a British newspaper.
sold to a former KGB agent for just £1 He has acquired a 75.1 per cent stake in the
(Dhs5). Evening Standard for a nominal sum, from
Mexican billionaire Carlos Slim Lord Rothermere’s Daily Mail & General
(pictured) gave the US publisher a six-year Trust (DMGT).
loan last week at a reported 14 per cent Associated Newspapers, a DMGT
interest rate, giving The New York Times subsidiary, will retain the remaining
publisher a much needed lifeline at a time 24.9 per cent of the loss-making Evening
of reduced advertising revenue and sharp Standard under a co-location agreement
declines in the company’s share price. sharing back-office functions. The title is
Slim—who is said to be worth $60 reportedly losing more than £10 million
billion and ranks as the world’s second (Dhs51 million) every year, although
richest man—will receive warrants in the losses are offset against the printing of
US company that, if exercised, could give Associated’s Daily Mail and Mail on
him an eventual 17 per cent interest in the Sunday publications. British sources last
publisher’s stock. week reported that Lebedev was looking to
The loan comes at a critical time for the add Tatler editor Geordie Greig to the team
US publisher, which is struggling to pay off as editor or editor-in-chief.
Awards for TBWA BBC expands Arabic service
after Visa win
UK BBC Arabic has bolstered its output to non-stop news service for Arabic-speakers
become a 24-hour operation, with viewers whenever, and wherever, they want it.”
US TBWA Worldwide has been crowned
now able to access its UK-produced news The website, bbcarabic.com, is seeing
‘Global Agency of the Year’ for 2008 by two
and analysis via radio, online, television growth via its mobile WAP site. Following
of America’s leading trade magazines. Both
and mobile. agreements with phone operators in Egypt,
Adweek and Advertising Age recognised
Head of BBC Arabic, Hosam El Sokkari, Jordan and Bahrain, the service has recently
the global network as leading the field
says, “Our TV operation has gone from seen a fivefold increase in traffic on last
following its $600 million (Dhs2.2 billion)
strength to strength since its launch as a year. Saudi viewers will be able to access the
Visa account win, which saw it beat rivals
12-hour-a-day operation in March 2008, service via one-minute video news bulletins
BBDO, Grey Worldwide and Leo Burnett.
and our 24/7 television service will offer a on STC and Mobily networks.
According to Advertising Age TBWA
was named best agency of 2008 because
of its success in assembling a new agency
to win Adidas’s digital business, and its
respectable revenue growth (5 per cent) in
what was a tough business climate.
It is the second time in three years
Adweek has awarded TBWA the title, but the
first time since 2004 for Advertising Age.
The Visa win saw TBWA draw heavily on marketing officer Laurie Coots about 1,000
its international team, as all staffers could employees assisted in research, creative
contribute via a Visa “channel” on the ideas and brand knowledge. Its first
company’s intranet site. According to chief campaign is expected in March 2009.
Burrowes Down Under with new blog
AUSTRALIA Former Campaign Middle East editor and
Dubai resident Tim Burrowes has launched a new blog
called ‘MuMbrella’, which covers everything under
Australia’s media and marketing ‘umbrella’.
In a promotional email for the site, Burrowes writes,
Summit lands film distribution deal
“MuMbrella.com.au is being updated all day, every working
day, with a mixture of exclusive and breaking news stories, US Summit Entertainment and Participant Dhabi. Participant Media has financed
comment and analysis. We’ll also be providing brilliant Media have joined forces in a multi-picture films such as the Academy Award winning
links to the best marketing and media thinking throughout distribution agreement which will see An Inconvenient Truth and Syriana.
Australia and the rest of the world.” Summit distribute Participant’s feature Jim Berk, CEO of Participant Media, says
The blog made national headlines last week by exposing a films until 2013. in a company statement, “A core strategy for
fake Tourism Queensland video of a woman tattooing a Great As many as four films per year will Participant is to secure a guaranteed path
Barrier Reef ad on her arm to win a dream island job. be distributed through Summit and to the marketplace for our films. We look
In between his time at Campaign Middle East and will include pictures funded under forward to expanding our relationship with
MuMbrella, Burrowes worked on Sydney-based media Participant’s $250 million (Dhs918 million) Summit beyond distribution to include co-
magazine B&T. financing deal with Imagenation Abu development and film acquisitions.”
www.mediaweekme.com 25 JANUARY 2009
/ 07
Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36