Hi and welcome to Insider Advertising for February 22. I’m senior advertising reporter Lauren Johnson, and here’s what’s going on:
- Prudential looks for a new ad agency.
- The Independent eyes acquisitions.
- Facebook negotiates with Australia.
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- Prudential is shopping for a new ad agency for the first time in more than a decade, Patrick Coffee and Lindsay Rittenhouse report.
- The development marks a big change for the company, which was early to create an in-house agency.
- Prudential reported its first loss since 2013 due to the economic downturn.
UK news site The Independent is looking to make its first acquisitions as it ramps up global expansion
- The Independent is in discussions to acquire or take stakes in other companies, sources told Lara O’Reilly.
- Prospective takeover targets include international media outlets and tech firms.
- The talks come after a solid year of financial performance and a strong start to 2021.
- Facebook’s decision to block news erased several state government and emergency department accounts.
- Treasurer Josh Frydenberg said he spoke with CEO Mark Zuckerberg Friday and talks were expected over the weekend.
- Facebook is opposing Australia’s proposed law requiring social media platforms to pay for links to news.
More stories we’re reading:
- What you need to know about Section 230, the controversial internet law Trump hated and Biden might reform (Business Insider)
- GEN Z VCS: Meet the top 29 up-and-comers changing the world of venture capital (Business Insider)
- Chick-fil-A’s out-of-control drive-thru lines have it facing off against local businesses and battling lawsuits (Business Insider)
- Los Angeles Times owner exploring sale of company (Wall Street Journal)
- Vizio accelerates its streaming ads business as the CTV arms race heats up (Adweek)