The New York Post reports that Ted Turner's behind-the-scenes agitation to complicate the Metro-Goldwyn-Mayer-Time Warner deal is alienating him from the board of the media conglomerate. The deal may not be subject to shareholder approval, which means Turner cannot vote his shares to block the deal.
The New York Post reports tensions between Sumner Redstone and Mel Karmazin may be escalating, according to people familiar with Viacom's board. Redstone is rumored to be pursuing a big deal -- possibly with Time Warner -- although spokespeople for both companies have denied the two companies have had talks.
About 45% of 1000 media buyers surveyed by InsightExpress say they plan to increase their media budgets in 2003. The survey found 36% plan to boost online ad spending and 31% project spending on cable TV to rise.
Advertisers are expected to reward networks' efforts to retain viewers with increased upfront spending this summer. Industry forecaster Jack Myers says broadcast upfront spending could rise as much as 8%.