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Beachfront dream home sells for US record $120 mn

A sprawling estate, situated on prime waterfront property along the US East Coast, has sold for $120 million, setting a new record in the United States. The sale of Copper Beech Farm, in the Connecticut town of Greenwich, was finalized Friday, according to the Greenwich Time newspaper. "This is the most expensive property sold in America," real estate agent David Ogilvy told the newspaper. The dream home had been listed for sale nearly a year earlier, in May 2013, for $190 million.

50-acre waterfront estate in Greenwich, Connecticut sells for $120 million

GREENWICH, Conn. - A 12-bedroom waterfront estate on 50 acres in wealthy Greenwich has been sold for $120 million. Even though that's $70 million under Copper Beech Farm's initial listing price, real estate agent David Ogilvy tells the Greenwich Time ( ) he believes the sum is the most ever paid for a residential property in the United States. The paperwork finalizing the sale to a limited liability company was filed Friday.

Report: US Internet ad revenue surpasses broadcast TV for the first time

NEW YORK, N.Y. - For the first time, U.S. Internet advertising revenue has surpassed that of broadcast television thanks to sharp growth in mobile and digital video ads. That's according to a report from the Interactive Advertising Bureau, which said Thursday that Internet advertising revenue rose 17 per cent to a record $42.8 billion in 2013. Broadcast TV ad revenue, in comparison, was $40.1 billion in 2013. Mobile advertising revenue more than doubled to $7.1 billion from $3.4 billion in 2012 as companies like Facebook, Google and Twitter boosted their mobile presence.

WPP says 2013 net profits rise 14%

British advertising giant WPP said Thursday that net profits jumped 14 percent last year on rising revenues, acquisitions, and strong growth in the US and many emerging markets. Profits after taxation climbed to £936.5 million ($1.6 billion, 1.1 billion euros) in 2013, up from £822.7 million in 2012, WPP said in a results statement. Total revenues advanced 6.2 percent to £11.02 billion, added WPP, which owns the Grey Group, Young & Rubicam and Ogilvy & Mather advertising agencies.

Some companies strike marketing gold at Olympics, while others fail to get in the game

NEW YORK, N.Y. - The pressure to win during the 2014 Sochi Olympics is nearly as intense for marketers as it is for the athletes themselves. Just like there are medals handed out during the Games, there are winners and losers in advertising. It's a huge stage for marketers. Companies pay as much as $100 million for exclusive rights to sponsor Olympic teams, while others shell out tens of thousands hoping to score gold by backing individual athletes. The catch? Advertisers' fates are often tied to external factors.

Olympic TV commercials nearing overkill, though marketers see a few winners

TORONTO - While the Sochi Olympics can be a battle of perseverance for athletes, many viewers find it's the advertisements that are testing new limits of patience. Between repeated showings and seemingly endless online scrutiny, the Canadian commercials have played before a national panel of judges whose expectations pale to the actual athletic competitions.

S. Korea's mobile ad market nearly doubles in 2013

By Kang Yoon-seung SEOUL, Feb. 18 (Yonhap) -- The local market for mobile advertisement nearly doubled on-year in 2013, a government report showed Tuesday, amid soaring number of smartphone users in the country. The Ministry of Science, ICT and Future Planning said the size of South Korea's mobile advert market was estimated at 416 billion won (US$392 million) last year, a leap from the 215.9 billion won in 2012. Last year's figure accounted for 4 percent of the entire advertisement market in the country, a twofold growth from 2 percent tallied a year earlier.

Illinois markets health insurance to young adults by advertising with The Onion

CHICAGO - Trying to sell young adults on the idea of health insurance before an upcoming deadline, Illinois officials announced Monday they are launching an ad campaign with the satirical online newspaper The Onion. Banner ads on The Onion website will depict a toy action figure with the words: "Man without health insurance is forced to sell action figures to pay medical bills." The ads say: "Get Covered. Don't sell your action figures."

Business Highlights

___ Feds want cars to be able to talk to each other WASHINGTON (AP) — Your car might see a deadly crash coming even if you don't, the government says, indicating it will require automakers to equip new vehicles with technology that lets cars warn each other if they're plunging toward peril. The action, still some years off, has "game-changing potential" to cut collisions, deaths and injuries, federal transportation officials said at a news conference Monday.

Former actor, Marlboro man Eric Lawson dies from chronic obstructive pulmonary disease

LOS ANGELES, Calif. - When it came to portraying the rugged western outdoorsman who helped transform a pack of filtered cigarettes into the world's most popular brand, Marlboro Man Eric Lawson was the real deal. Ruggedly handsome, the actor could ride a horse through the wide-open spaces of the Southwest, from Texas to Colorado to Arizona or wherever else the Phillip Morris tobacco company sent him to light up while representing a true American icon, the cowboy. And he really did smoke Marlboro cigarettes, as many as three packs a day.
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