Australian retailer Coles Myer will today scrap 21 years of history by formally dumping Myer from its names and trade as Coles Group as part of its new simplified structure.
The sale of the Myer department store chain has led to the dropping of Myer from the company's name from November 27, 2006.
The restructure also involves the sacking of 2,500 administrative staff. The first list of 500 redundancies will be announced within 10 days.
It will also have a new ASX code, changing from CML to CGJ on November 29.
The company has been known as Coles Myer since the controversial 1985 merger of GJ Coles and the Myer Emporium. Simon Evans, The Australian Financial Review
Ashes delivers advertising boon for Nine
The increased popularity of this Ashes series has bumped up advertising rates for the Nine Network.
A single 30-second slot on Nine during the Ashes will cost about $9000, with elite partnership packages involving numerous slots costing about $4m and normal sponsorship packages about $2m.
That is about 25% higher than packages offered for last year’s series involving South Africa, the West Indies and Sri Lanka but the network anticipates higher ratings and audiences.
The most watched sporting event in the country remains the AFL grand final, which commands rates of up to $60,000 for a 30-second slot, followed by the Melbourne Cup, Australian Grand Prix and Commonwealth and Olympic Games.
The highest price for a 30-second spot sold during America’s 2005 Superbowl for $2.4m.
Mitchell & Partners advertising chief Harold Mitchell said there were a record number of sponsors this year, proving a boon to Nine and flowing on to other media.
A Nine spokeswoman described the response as overwhelming, stressing that while advertising rates had increased, anticipated audience penetration had also grown. James McCullough, The Courier Mail
Mobile marketing’s new aura
Mobile media company Aura Interactive is building a national Bluetooth-enabled network to beam advertiser-funded content free to consumers over their mobile phones in key entertainment, retail and commuter precincts.
Cinema chain Hoyts has joined a number of shopping centres, entertainment locations and outdoor advertising companies to install the BlueZone technology, which will allow consumers with Bluetooth-enabled phones to opt-in to download the content within certain geographic locations.
Hoyts will activate the content zones in four cinemas in Sydney and Melbourne from December 1, giving people the chance to download a mobile phone voucher for a discounted $10 movie ticket that must be redeemed within a week.
By March, Aura plans to roll out several hundred BlueZones that could offer third-party information and entertainment services, such as public transport updates, news headlines and advertising offers.
Aura sales and marketing director Adam Dunne predicted three-quarters of all phones owned by 14 to 35-year-olds would be Bluetooth-enabled by early next year.
It’s understood upcoming releases including Night at the Museum and Eragon will be promoted using the technology, which will operate in the Broadway and Blacktown cinemas in NSW, and Melbourne Central and Chadstone in Victoria. Lara Sinclair, The Australian
Vega a drag on DMG revenue
A weak Sydney advertising market and the cost of launching the Vega stations in Sydney and Melbourne were blamed for Australian radio broadcaster, DMG Radio’s five-fold jump in losses for 2005-06.
The financial results of UK parent company, Daily Mail & General Trust, revealed DMG had posted a loss of A$93.2m, compared with A$17.8m in 2004-05.
Its operating loss rose from A$1m to A$4.9m, while revenue from its radio stations increased by 10% to A$92.5m. Vega, the over-40s’ radio station DMG launched in Sydney in August last year and in Melbourne a month later, was the biggest drag on the company’s performance.
The London-based Daily Mail & General Trust has sunk more than A$570m into the Nova and Vega networks over the past six years. Neil Shoebridge, The Australian Financial Review
Thorpe faces $1m-a-year loss after quitting
Swim legend Ian Thorpe stands to lose up to $1m a year from his decision to quit the pool.
Marketing experts believe the “Thorpedo’s” sponsorship earnings could drop in the short term, but his long-term prospects remain paved with gold.
The five-time Olympic gold medallist and multiple world record-holder earns up to $4m a year in sponsorship and another $4m from his food, underwear and jewellery.
He is signed to his biggest supporter Adidas until 2012 and ranks alongside David Beckham as among that brand’s most expensive celebrity investments.
But sports marketing experts tip a 25% dip in short-term sponsorship earnings for the world swimming legend who announced his retirement last Tuesday. Sunday Territorian
