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Technology Stocks : IRID - Iridium World Communications IPO Announced! -- Ignore unavailable to you. Want to Upgrade?

To: Marty Rubin who wrote (2198)	7/26/1999 10:50:00 AM
From: Marty Rubin	Read Replies (1) \| Respond to of 2693

Iridium Cuts Its 1999 Ad Budget to Around $12 Mln, WSJ Reports Washington, July 26 (Bloomberg) -- Iridium LLC, a satellite- telephone company, is slashing its advertising budget to around $12 million for 1999 after starting a $145 million ad campaign last year, the interactive edition of the Wall Street Journal reported, citing people in the industry. Iridium praised its ad campaign and insisted that the $12 million figure is too low, though it didn't offer a different figure and said the advertising budget ''isn't locked in,'' the Journal said. Additionally, Interpublic Group of Cos.'s Ammirati Puris Lintas won't any longer be Iridium's agency of record, the newspaper said. Iridium Chief Financial Officer Leo Mondale said on July 16 the company doesn't think a prepackaged bankruptcy-protection filing is the best way to solve its debt problems. (The Wall Street Journal Interactive 7/26 www.wsj.com) Jul/26/1999 4:24 (C) Copyright 1999 Bloomberg L.P.