AstraZeneca, PLC, has entered into a definitive agreement to take over MedImmune, Inc., for around $15.6 billion—a deal that has been deemed risky by some. According to the terms of the agreement, AstraZeneca will pay $58 per share to the stockholders of the biotech company. Following the announcement, the stock value of AstraZeneca's shares fell by 5%, while that of Maryland-based MedImmune's shares rose by 18%. MedImmune manufactures the drug Synagis, which is used to treat a common respiratory virus. The deal, which is expected to close in June, will increase AstraZeneca's share of the biologics market from 7% to 27%.
Nielsen/NetRatings and comScore asked to submit to third-party audit
The Internet Advertising Bureau (IAB) has asked comScore and Nielsen/NetRatings (NNR) to agree to a third-party audit of their measurement processes. This is in keeping with the IAB's goal of achieving transparency in audience counts and revising old methodologies. So far, neither of the two companies has submitted to an audit by either IAB or the Media Ratings Council, despite reported discrepancies in the audience measurements of comScore and NNR when compared to the server logs of IAB members. Also, it is felt that with more advertisers looking at online advertising, audience-measuring methodologies need to be updated.
Capobianco & Associates to provide brand marketing for Citizens of Humanity
Capobianco & Associates will now handle public relations and brand marketing for Citizens of Humanity, a company that designs and distributes denim apparel. The company is favored by the fashion-conscious because of its luxury denim line. The California-based company is now bringing its seasonal collections and knitwear to international audiences. Capobianco & Associates is an independent agency started by Cindy Capobianco after she spent 15 years marketing worldwide fashion brands such as Gap, Donna Karan, Banana Republic, and Todd Oldham. Capobianco was also a fashion editor for Marie Claire and Allure.
LAT TV to deliver content to 22 new markets
Following a LatinAmerica Broadcasting, Inc., affiliation agreement with Equity Media Holdings Corporation, LAT TV's Spanish-language content will now be shown in 22 different markets, including Las Vegas, Salt Lake City, Atlanta, Seattle, and Portland. The company has been operating for less than a year and reaches out to 17.4% of the U.S. Latino population between the ages of 18 and 49. Sources say this expansion could make LatinAmerica Broadcasting the fourth-largest Hispanic television broadcasting group in terms of designated market-area coverage. Equity Media is an affiliate group of Hispanic networks Univision and TeleFutura.
Boscov's to implement Harte-Hanks database marketing system
Harte-Hanks, a direct- and targeted-marketing company, will supply Boscov's department store with its Allink Enhanced retail database marketing system. With the system in place, retail companies can acquire and share customer information from different departments. For Boscov's, the move is part of a multi-channel marketing strategy. The Reading, PA-based, family-owned department store chain now has around 50 stores and projects that its 2007 sales will total $1.3 billion.
