Wednesday October 24, 12:51 pm Eastern Time
Kraft strikes marketing, ad pacts with AOL, Viacom
NORTHFIELD, Ill., Oct 24 (Reuters) - Kraft Foods Inc. (NYSE:KFT - news) said on Wednesday it formed alliances with with AOL Time Warner Inc. and Viacom Inc. to market its products, including salad dressing and Nabisco cookies, over the media giants' various assets such as Time magazine, CNN, CBS and Nickelodeon.
Exact terms of the deals with AOL Time Warner and Viacom's marketing group were not disclosed, but Kraft said in a statement that the ad spending with the two companies would represent an investment of several hundred million dollars.
Kraft's media partners, including MediaVest, will work with the company's marketing teams to develop the cross-platform programming.
AOL Time Warner and Viacom have been among the largest proponents of cross-marketing deals that offer advertisers a way to sell their products over several different mediums -- such as magazines, cable networks, billboards and online.
The efforts come at a time when ad spending has deteriorated and media companies are fighting more aggressively for the shrinking amount of ad dollars in the market. |
