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Ad Age - Latest News
  1. MDC will pay six-figure incentive to five execs to stay on until it closes a deal

    The board of MDC Partners has approved a one-time "retention incentive" award for five senior executives of the company that is conditional on continued employment through the successful closing of a significant transaction in 2019, according to an SEC filing Friday evening.

    MDC Partners said in September that it was exploring potential strategic alternatives that could include the sale of the agency holding company, whose portfolio includes 72andSunny, Anomaly, Assembly and Doner.

    The filing said that on Dec. 11, the Human Resources and Compensation Committee of MDC's board of directors approved the awards for executives with the exception of outgoing CEO Scott Kauffman. Exec VP and chief financial officer David Doft and Exec VP and general counsel Mitchell Gendel will receive awards of $650,000. David Ross, Exec VP of strategy and corporate development, will receive an award of $500,000. The amounts are equal to the "applicable executive's respective target annual bonus award for 2018."

    Continue reading at AdAge.com

  2. Prada will stop selling monkey keychains decried as racist

    After coming under fire this week for creating a monkey figurine with overly large red lips in a style reminiscent of racist caricatures of black people, Prada apologized and announced Friday that it will stop selling the offending products. .

    The high-end brand had been using the image on items such as keychains and corresponding marketing as part of its Pradamagalia collection. The imagery was also prevalent in the brand's SoHo flagship, according to consumers who complained on social media.

    Thanks to #blackface @Prada, now you can take #sambo home with you for the holidays #StopRacism #StopBlackface #StopPrada pic.twitter.com/5t2cvosLIF

    Continue reading at AdAge.com

  3. Facebook discloses 'bug' that opened private photos to apps

    Facebook discovered yet another privacy hole in its service. This time there was a flaw in the platform that let apps access people's photos that should not have been available.

    On Friday, Facebook disclosed a "bug" in its photos APIthe platform for developers to create apps that tap into people's photos on the site. The bug existed from September 13 to September 25, and during that time hundreds of apps that use the photos API were able to see people's photos that were never posted publicly to Facebook.

    The social network said in a blog post on Friday that up to 6.8 million people were left exposed by the security lapse, which would have made photos they never posted publicly visible to the app developers. A person would only be affected if at one point they gave an app permission to access their photos for a service. Apps for dating and photo sharing are typically the kinds of services that request access to photos, and Facebook said there were 1,500 apps from 876 developers affected.

    Continue reading at AdAge.com

  4. Agency Brief: Grills, gloss and a g'day for one agency

    If you're reading this, I have yet to succumb to the avalanche of gotta-get-this-out-the-door-before-2019 pitches or the sheer amount of sugar cookies that have landed on my desk this week. Not sure which one will end me first.

    Giddy up for a very newsy Agency Brief this week, and don't forget Tuesday is the deadline for our A-List Awards is on Tuesday, Dec. 18 at 5 p.m. EST (Creativity Awards have a bit longer, until Jan. 8).

    See you next week for the last Brief of the year. Can you believe it?

    Continue reading at AdAge.com

  5. Chiefs star quarterback Pat Mahomes plans 'Patty Flakes' cereal

    Kansas City Chiefs quarterback Pat Mahomes regularly evades 300-pound linemen with ease, but now he's facing a more formidable opponent: Tony the Tiger.

    Mahomes, 23, is preparing to launch a signature breakfast cereal, "Patty Flakes," the second-year player's agent, Leigh Steinberg, said on the Bloomberg Business of Sports podcast.

    It's not clear who will produce or market the cereal, but that industry may put Mahomes's charisma to the test. Kellogg Co. and General Mills Inc. have struggled to lift sluggish sales in recent years, hurt by consumers shifting to other breakfast options. The now-retired quarterback Doug Flutie had some success with "Flutie Flakes," though that was two decades ago.

    Continue reading at AdAge.com

 

 

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