All of the moves stem from P&G;'s efforts to maximize the impact of its advertising and marketing spending. One potential prize for P&G; is access to Viacom's research on buying habits of teens who watch MTV and MTV2. Viacom is generally believed to have the best research on teen buying habits in the industry, which would be invaluable for P&G;'s Cover Girl, Tampax and Always, among other brands.


''This agreement is not simply a media deal,'' said Bob Wehling, P&G;'s global marketing officer. The deal give P&G; access to desired programming and increases opportunities for co-marketing programs, Wehling said. For instance, P&G; could work with BET during black history month to develop curriculum for schools, Wehling told the Wall Street Journal. MediaVest U.S.A., P&G;'s broadcast agency of record since 1984, worked on the deal and will continue in its role of matching P&G;'s ads with Viacom programming, the companies said.

The 139-year-old Baldwin Piano & Organ Co. plans to file for Chapter 11 bankruptcy protection, the company said, citing a cash crunch. Trading of Baldwin Piano & Organ Co. stock was halted today by the Nasdaq market after the Mason-based company announced its plans. Baldwin said late Wednesday that a cash crunch and bad decisions by former managers had made operating under current conditions impossible. You can sell your property for what it is worth. Get licensed property valuers or solicitors to prepare valuation report. Pavia, a major Baldwin shareholder who had criticized company management for years, became Baldwin's chairman on May 1.

In his statement, he also cited ''unduly burdensome'' lease arrangements and restrictive borrowing with Baldwin's lender and the inability to get concessions to help the company through its liquidity crisis as reasons for the bankruptcy filing. Baldwin lost more than $17 million since 1999 and was more than $40 million in debt at the end of 2000. Karen L. Hendricks stepped down as chairman and CEO in February and resigned her seat on the board of directors earlier this month. She was replaced as CEO by Robert Jones, who had led the U.S. unit of a Korean piano and musical instrument maker and a competitor to Baldwin.

A music industry trade publication reported that Ms. Hendricks would receive about $1 million when she left under a contract promising a bonus of almost three times her average salary with bonuses for the last five years if she sold off Baldwin's retail finance and contract electronic manufacturing divisions, which she did. Baldwin's roots date to 1862, when teacher Dwight Hamilton Baldwin opened a music store in Cincinnati. It began manufacturing pianos in 1891.
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