Mumbrellacast: Bauer and Pac Mags play chicken, pay cuts persist, and the socially-distant pitch process
This week saw the ultimate game of chicken being played by Bauer Media and Pacific Magazines. Rumours had it that Bauer was ghosting Pac Mags over its impending $40m acquisition. Pac Mags took Bauer to court, then told the ASX ‘Everything is fine’. 24 hours later the deadline for the sale was pushed back a month. The Mumbrellacast team discusses what is really going on.
And, as is the sad reality of the industry right now, more cuts took place at Foxtel, ARN and WPP AUNZ. While lower paid staff face heavy implications, the team took a deep dive into the salaries of WPP execs to determine who really needs to take a pay cut. And why is it that on-air talent at ARN aren’t having their hip pockets hit as hard as behind-the-scenes staff?
Plus, Trinity P3’s Darren Woolley joined the Mumbrellacast to talk through the changing nature of the client-agency relationship (53:01). He reveals that, surprisingly, a number of marketers have enquired about running a pitch, what a self-isolation pitch even looks like, and what marketers should be focusing on if they are to emerge on the other side of this crisis with a successful brand.
All the analysis in today’s Mumbrellacast is brought to you by Budget Direct
In the news
- Job cuts at WPP, Bauer and Australian Radio Network (1:56)
- Is Pacific Magazines the worst acquisition of all time? (16:57)
- Will House Rules help Seven staunch its bleeding ratings? (25:06)
- A big exit in adland (31:18)
Sponsored segment: Audio diaries
- Eardrum’s Ralph Van Dijk speaks to Coles chief marketing officer Lisa Ronson (37:16)
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