McCann-Erickson has announced a new business group called Tag. The purpose of the new group is to develop strategies and advertising programs specifically for the 18-24 demo. The group will be headed by Interpublic's EVP Director of Account Management and SVP Group Creative Director Craig Markus.
Quarterly results released Wednesday show the magazine losing $4.5M in Q1 and revenue being down 15% from last year. And Stewart has no upbeat comments on the situation.
"During our last earnings teleconference this past March, I expressed that I was increasingly hopeful that my personal legal situation regarding the ongoing governmental investigation of my sale of noncompany stock would be resolved in the near future," she said Wednesday. "Obviously that has not happened and I can make no predictions as to when it will."
Ad pages are down. Revenue is down. How long before the title itself is down?