Bertelsmann-owned television station RTL is set to lose some $65 million in ad revenue next year after failure to agree terms with Procter & Gamble.
The consumer goods colossus has suspended its planned advertising on the channel in 2002 after negotiations with RTL’s marketing and sales arm IP broke down, according to Walter Neuhauser, IP’s general manager.
The decision is a considerable blow for RTL, which has suffered falling ad income of late. One of its leading shows, the German version of global quiz phenomenon Who Wants to be a Millionaire, is reportedly still looking to fill all its ad slots.
The most likely beneficiaries of P&G’s decision are SevenOne Media, owned by Kirch Gruppe, and RTL’s own subsidiaries RTL 2, Super RTL and Vox.
No comment was forthcoming from either P&G or its German media shop MediaCom.
News source: AdAge Global