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CPG Companies Withdrawing Their Advertising Money From News of the World Following Phone-Hacking Revelations

July 6, 2011: 11:27 PM EST
UK consumer packaged goods companies including Procter & Gamble, Tesco, Asda, and Coca-Cola GB, as well as telecom companies Orange and Vodafone plan to withdraw their advertising from the News of the World following revelations of phone hacking by the tabloid. Other companies, such as mobile service providers 3, T-Mobile, and O2, are reviewing their advertising deals with the tabloid as public outcry grows over the phone-hacking revelations. Advertisers' withdrawals are having a negative impact on News of the World's annual advertising revenue, estimated at £38 million.
Mark Sweney, "Procter & Gamble, Asda and Tesco consider pulling News of the World ads", Guardian, July 06, 2011, © Guardian News and Media Limited
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