Digest: Spot Runner scores; Imax pumps
EmptySpot Runner scores GlobeShooter
Spot Runner, the Internet advertising agency owned by ad conglomerate WPP Group, has acquired GlobeShooter, a network of more than 1,200 independent filmmakers, videographers, photographers and production companies. The companies didn't disclose financial details. The acquired firm will be renamed the Spot Runner Production Network. It will allow local and regional businesses to produce custom commercials and online ads with a professional look.
Whitman eyes end of eBay auction
Meg Whitman is looking to retire from her post as CEO of eBay, the Wall Street Journal said Tuesday. Whitman in recent years has repeatedly been named as a contender for top jobs at media and entertainment conglomerates. John Donahoe, who heads eBay's core auction business unit, is considered the lead contender for the CEO job. RBC Capital Markets analyst Jordan Rohan said Tuesday that a new CEO could mean "a significant change in business strategy."
Imax theater deal pumps stock
TORONTO -- Imax on Tuesday unveiled a two-theater deal in the Philippines as its stock rallied in North American markets. Imax said mall operator SM Prime Holdings has agreed to install two Imax digital-projection systems at venues in Manila and Cebu by the end of 2009. The latest Asian deal came as shares in Imax continued a rocky ride on the financial markets. The company's stock fell sharply in early morning trading on the Nasdaq before recovering in afternoon trading. On the Toronto Stock Exchange, Imax shares reversed Monday's sharp sell-off, rising 13%.