Monday, May 04, 2009

Chrysler Owes Omnicom’s BBDO Detroit $58.1MM

Chrysler filed for bankruptcy last week; in its filing, it listed Omnicom’s BBDO Detroit as its second-largest unsecured creditor.

Chrysler, which posted a 29% decline in total ad spend in 2008 from the previous year, owes BBDO Detroit $58.1 million, though it is believed that the majority of that money is owed not to the agency itself but to the media for purchases made on Chrysler’s behalf. Most of the money is believed to be owed to local TV stations, AdAge reports.

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