Pennzoil and CBS Form Unprecedented Partnership
3 August 1998
Pennzoil and CBS Form Unprecedented Partnership
NEW YORK--August 3, 1998--Broadcast and Cable Networks,
Major Market Radio and Television Stations
And Outdoors Included in Integrated Advertising Deal
In an unprecedented move that strategically allies an advertiser with a media powerhouse in a broad-based partnership, Pennzoil Products Company and CBS Corporation have joined forces to create an advertising partnership for Pennzoil that will result in major sponsorships across five CBS media businesses: the CBS Television Network, CBS Cable's TNN, CBS Owned radio stations, CBS Owned television stations and TDI, CBS's outdoor display advertising unit. The announcement was made today by Clyde Beahm, Group Vice President, Marketing, Pennzoil Products Company, and Mel Karmazin, President and Chief Operating Officer, CBS Corporation. GSD&M, located in Austin, Texas, is Pennzoil's agency of record.
The one-year, multi-million dollar partnership, which positions Pennzoil to strategically build on CBS's unparalleled media strengths, will begin in the first quarter of 1999. The deal marks the first time that Pennzoil, a long-time advertiser on the CBS Television Network and CBS Cable's TNN, will utilize spot radio and spot television as well as outdoor advertising in an integrated campaign. The deal also marks the first time that CBS has sold sponsorships across all of its media to a single advertiser.
"Our media package with CBS represents a new way of doing business," comments Beahm. "We believe that more companies will be looking for 'win-win' opportunities like this one, where Pennzoil obtains value-added media programs and CBS obtains more business. I believe that these types of partnerships are the wave of the future. We appreciate the vision and tenacity that CBS and our agency, GSD&M, brought together to make this happen."
"Pennzoil products will be marketed across the entire spectrum of CBS media," says Karmazin. "This partnership capitalizes on CBS's unparalleled strengths in major market radio and television, broadcast and cable networks, and outdoors, providing our customers with a local and national marketing powerhouse that only CBS -- and no other company -- can."
"By forming a partnership with CBS and buying across the Company's media, Pennzoil is able to leverage its brands' exposure for greater impact," says Steve Gurasich, Chairman GSD&M. "The partnership also more readily affords an expansion of value-added impressions as the media partner, CBS, brings its wide-ranging national and local media properties into play."
The partnership involves value-added sponsorships in all CBS media. Pennzoil will sponsor a half-time segment during regular season NCAA basketball on the CBS Television Network. In addition, Pennzoil will sponsor NASCAR Winston Cup, Busch Grand National and Craftsman Truck races on the CBS Television Network.
On TNN, Pennzoil will sponsor NASCAR Winston Cup Racing and the Pennzoil World of Outlaws competitions and will be the name sponsor of a special segment on RACEDAY, a weekend racing news series. TNN's Web site, www.country.com, will feature Pennzoil-sponsored Webcasts that put on-line users in the contenders' cars via in-car cameras.
Sponsorship of sports, weather and traffic reports on CBS Owned radio stations as well as on CBS Owned television stations in selected markets is also included in the partnership. In those markets, Pennzoil will, for the first time, bring its advertising to the outdoors in a campaign utilizing TDI's bus displays, both taillight displays and full-wrap buses.
Pennzoil motor oils are manufactured by Pennzoil Products Company, a wholly owned subsidiary of Houston-based Pennzoil Company . Pennzoil Company explores for and produces crude oil and natural gas, manufactures and markets premium quality lubricants and is the parent company of Jiffy Lube International Inc, the world's largest franchiser of fast oil change centers. For more information, visit www.pennzoil.com.
CBS is comprised of CBS Radio, the world's largest radio group; 14 CBS Owned television stations, seven of which are in the Top 10 markets, and CBS Television, as well as TDI, the Company's outdoor business, and CBS Cable, including its four cable networks, its regional sports operations and its technical services businesses.