Publicitas edges out rivals to buy Time's Emphasis

<p>HONG KONG: Publicitas Promotion Network has scooped up Emphasis </p><p>Custom Media (ECM), beating about four other international contenders, </p><p>which is believed to have included communications giant WPP. </p><p><BR><BR> </p><p>The purchase will allow the Swiss-based global advertising sales company </p><p>to make its first foray into the contract publishing business. </p><p><BR><BR> </p><p>Following the purchase, Publicitas Asia chief executive Barrie Goodridge </p><p>will take over from ECM managing director Jonathan Kiehnau as acting </p><p>managing director. Kiehnau is returning to AOL Time Warner in New </p><p>York. </p><p><BR><BR> </p><p>ECM is the region's largest publisher of custom magazines for leading </p><p>Asian airlines such as Cathay Pacific's Discovery, Thai Airways' </p><p>Sawasdee, China Airlines' Dynasty and Korean Air's Morning Calm. ECM has </p><p>been a wholly-owned subsidiary of Time since 1998, but the publishing </p><p>group decided to offload it to concentrate on its core business of </p><p>magazine publishing. </p><p><BR><BR> </p><p>Despite the sale, Time, however, insisted that ECM's business model </p><p>remained viable. </p><p><BR><BR> </p><p>Goodridge said: "Airlines are increasingly looking at turnkey solutions </p><p>in publishing, video production and advertising. The strategy of </p><p>acquiring ECM is, therefore, to get the expertise." </p><p><BR><BR> </p><p>Publicitas will soon be opening Emphasis offices in London, Paris and </p><p>New York. </p><p><BR><BR> </p>