Disney, Ad Firm Won’t Renew Contract
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Walt Disney Co. said it and Omnicom Group Inc.’s OMD ad agency agreed not to renew a $1-billion advertising contract because Disney expects to sell at least $1 billion to OMD clients in the next TV season.
OMD will continue to buy ads that will run on Disney’s ABC television network, cable channels such as ESPN, as well as its radio and TV stations, magazines and Web sites, said Bill Bund, senior vice president of ABC Integrated sales. OMD’s clients, such as PepsiCo Inc. and McDonald’s Corp., still will run ads, he said.
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