Hi! Welcome to the Insider Advertising daily for November 30. I’m Lauren Johnson, a senior advertising reporter at Business Insider. Subscribe here to get this newsletter in your inbox every weekday. Send me feedback or tips at [email protected].
Today’s news: Inside ad agency J. Walter Thompson’s rise and fall, which digital media companies could get acquired next, and Fox News’ Trump backlash.
- Patrick Coffee looked at J. Walter Thompson, the world’s oldest ad agency whose ad revenue has sharply declined.
- JWT suffered from a faltering digital transformation, financial pressure at the holding company level, and a lawsuit accusing its former CEO of sexism and racism that scared potential clients and hires away.
- The agency stands as a cautionary tale and reflection of an industry shaken by changes in consumer behaviour and the rise of Facebook and Google.
- BuzzFeed’s acquisition of HuffPost has sparked speculation about which other digital media companies could be acquired next, reports Lara O’Reilly.
- Experts expect dealflow to be plentiful in the months ahead, especially as SPACs and private equity firms circle the digital media sector.
- We asked eight digital media experts to predict which digital media companies could get acquired in the coming months.
- Jake Lahut writes that President Donald Trump has gone from being a Fox News superfan to waging war against the network. He is encouraging his supporters to watch more MAGA-friendly channels like Newsmax and One America News Network.
- Fox News is now under a siege of its own making as the hosts recognise Joe Biden as the president-elect and increasingly challenge Trump’s baseless election-fraud claims.
- Fox News’ favorability ratings among Republicans fell by 13% after the election, according to Morning Consult.
More stories we’re reading:
- A former exec is suing Daniel J. Edelman Holdings, alleging disability and racial discrimination (Business Insider)
- Is Silicon Valley finally dead? (Business Insider)
- General Mills, Kellogg, and other food manufacturing giants could snap up these 5 wildly popular food brands, an industry insider says (Business Insider)
- A TikTok exec who holds ‘growth strategy sessions’ with brands explains 6 key takeaways for success on the app(Business Insider)
- Spotify needs more than a cup of Joe (Wall Street Journal)
- Facebook’s AI mistakenly bans ads for struggling businesses (Bloomberg)
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