The WPP Group acquired Vancouver-based interactive agency Blast Radius, according to a story in the New York Times, also stating that the agency is considered a specialist in the growing realm of social networking.
WPP told the Toronto Star that Blast Radius will become part of its Wunderman network in a move to grow its digital operations. And the Herald Tribune reports that this is WPP's second interactive agency acquisition in six weeks.
The Wall Street Journal reports changes at CBS, a company that has suffered losses without radio “superstars” Don Imus and Howard Stern. CBS Radio will ditch its regional reporting structure to “cut down on bureaucracy and help stations expand revenue.”
According to the New York Times, Applebees, in an effort to reposition itself by strengthening its current “neighborhood hotspot” image and updating itself “for a world where relationships are dominated by Treos, cellphones and BlackBerrys,” will roll out a rebranding campaign this Sunday, including advertising, a new logo, new uniforms, redesigned restaurants and a new theme, “Together is good.
Shareholders rejected the Dolan Family's 10.6 billion bid for Cablevision Systems, leaving the company independent, according to a New York Times blog.
The bad news from the Los Angeles Times: Tribune's 3rd quarter profits fell. The good news: profits fell less than analysts expected.
Microsoft beat Google with a $240 million equity stake in Facebook's next round of financing at a $15 billion valuation, according to a recent statement and WSJ story.
Facebook is now the 5th most valuable U.S. Internet company, while Myspace tops rankings with 58.6 million visitors in September.
Bob Woodruff talks to the Times about returning to work full time as a correspondent for ABC News.
