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Coronation Street loses sponsor | Coronation Street loses sponsor |
(10 minutes later) | |
Confectionery giant Cadbury's is to end its £10m-a-year sponsorship of ITV soap Coronation Street. | |
Cadbury's, which has sponsored the show for 10 years, said it wanted to look at new opportunities for its brand. | Cadbury's, which has sponsored the show for 10 years, said it wanted to look at new opportunities for its brand. |
The end of the sponsorship, the most lucrative in terrestrial television, comes as a further blow to ITV which is struggling with its future direction. | The end of the sponsorship, the most lucrative in terrestrial television, comes as a further blow to ITV which is struggling with its future direction. |
The broadcaster has been searching for a new chief executive for months and is facing a potential bid from rival NTL. | The broadcaster has been searching for a new chief executive for months and is facing a potential bid from rival NTL. |
Moving on | Moving on |
Cadbury's latest two-year deal with Coronation Street expires at the end of 2007. | Cadbury's latest two-year deal with Coronation Street expires at the end of 2007. |
The company said it had agreed with ITV that if the broadcaster found a replacement sponsor before then, it would end its involvement earlier. | The company said it had agreed with ITV that if the broadcaster found a replacement sponsor before then, it would end its involvement earlier. |
Nothing lasts for ever Cadbury's spokesman | Nothing lasts for ever Cadbury's spokesman |
Cadbury's - whose adverts appear at the start and end of each episode of the soap - said that it had taken the decision to end the deal after refocusing its marketing strategy. | Cadbury's - whose adverts appear at the start and end of each episode of the soap - said that it had taken the decision to end the deal after refocusing its marketing strategy. |
"Nothing lasts for ever," a Cadbury's spokesman said. | "Nothing lasts for ever," a Cadbury's spokesman said. |
"Ten years is an awful long time for a sponsorship deal. Right now, we felt it didn't meet the needs of our marketing strategy." | "Ten years is an awful long time for a sponsorship deal. Right now, we felt it didn't meet the needs of our marketing strategy." |
The deal was seen as a landmark development in television sponsorship when it was signed in 1996. | The deal was seen as a landmark development in television sponsorship when it was signed in 1996. |
Coronation Street regularly attracts more than 10 million viewers, making it one of the most-watched programmes on television and an extremely lucrative shop window for advertisers. | Coronation Street regularly attracts more than 10 million viewers, making it one of the most-watched programmes on television and an extremely lucrative shop window for advertisers. |
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