NEW YORK — Viacom is talking with Procter & Gamble about a cross-media advertising sales deal worth more than $300 million, according to a news report Monday.
The media and entertainment giant’s chief operating officer Mel Karmazin alluded to such talks several weeks ago when he mentioned that the company was trying to hash out several pre-upfront deals with big advertisers. “I don’t know if they’ll get done, but they are very exciting conversations,” he said.
Viacom has been at the forefront of cross-promotion and packaging ads across its various media properties, which include the CBS and UPN broadcast networks; MTV, TNN and VH1 cablers; plus giant radio and billboard businesses. A P&G pact would represent the largest cross-divisional deal ever.
Viacom execs declined to comment.
Viacom shares were nearly flat Monday, inching up 0.36% to close at $53.49.