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WHAT'S ON TAP? LOCKOUT ADDS TO MOLSON'S 2ND QUARTER LOSS
Published November 4, 1994
Molson Cos. Ltd. reported a 12% decrease in earnings due to "flat brewery results," lower profits at U.S. cleaning and sanitizing subsidiary and "tighter margins" in its retail divisions. Net income for the period ending September 30 was C$32.7M, compared to C$37.2M for the same period last year. Molson's sports and entertainment group, which owns the Canadiens, reported a 6-month operating loss of $3.6M, compared with a profit of $3.2M last year. A Molson spokesperson said the NHL lockout has cost the company about $3M, and could reach $15M if the season is canceled (Paul Brent, FINANCIAL POST, 11/4). NEW AD CAMPAIGN FROM MILLER LITE: "The stakes are high as the Miller Brewing Company introduces another campaign for Miller Lite, the fourth since the $100 million account arrived at Leo Burnett U.S.A. three years ago in one of the largest agency switches ever." Two new spots began running this week in a campaign called "Great Expectations," in which viewers find themselves "transported inside their television sets, participating in the events they were watching." Scott Barnum, Franchise Dir for Premium Brands at Miller, said the new campaign will focus more on the "first half of the 'Tastes great, less filling' equation" (Stuart Elliott, N.Y. TIMES, 11/3). Miller also added Young & Rubicam as the company's "first international agency of record" (N.Y. TIMES, 11/4).