5 Blogs Before Lunch

Visa IPO Could Be Bigger Than AT&T and Kraft Offerings--Combined

If Visa's IPO raises an expected $18.76 billion, it would be bigger than the last two largest IPO's combined--the $10.6 billion AT&T Wireless offering in 2000 and the Kraft Foods' $8.7 billion offer in 2001. Talk about brand equity!

Getty Images Sold To Private Equity Firm Hellman & Friedman

About a month ago, I blogged aboutGetty Images putting itself up for sale. Well, it appears that the "Sold" sign can now be placed on the company that sells stock photography and video footage.

Private equity firm Hellman & Friedman LLC has agreed to buy Getty for $2.1 Billion--fair above the estimated $1.5 billion number that was being floated around in January. Hellman & Friedman is known for its investments in well known brands like NASDAQ and Formula One racing, as well as media companies like Young & Rubicam, Doubleclick and Digitas.

Electronic Arts Tries To Buy Grand Theft Auto

It's not quite as big as Microsoft's $44 Billion takeover attempt of Yahoo!, but Electronic Arts is attempting a $2 Billion unsolicited acquisition of rival Take-Two Interactive, publisher of the Grand Theft Auto franchise.

Electronic Arts, which publishes hit games like the Madden N.F.L. and the Need for Speed series, is after the Grand Theft Auto franchise, Take-Two’s crown jewel, which has sold more than 60 million copies.

The New York Times reports that there are potential roadblocks ahead: Take-Two has already rejected the approach, saying it "provides insufficient value to our shareholders and comes at absolutely the wrong time."

Financial Times Launches Social Networking Site

The Financial Times has launched a social networking site. While hardly a MySpace for the finance sector, the site is targeted at media and technology executives working in the digital, new media, mobile and telecoms sectors.

Sounding a bit more like Linkedin than Bebo, members will be able to search and contact fellow members using the online networking tool and will have complimentary passes for any conference from the FT's Global Conferences and Events portfolio, access all FT conferences' speaker presentations and podcasts, access to face-to-face members' networking events and a subscription to FT.com

The FT plans to launch similar forums for the luxury goods and property sectors.

Benetton Launches "AFRICA WORKS" Ad Campaign To Promote Microcredit and Equitable Investment

Benetton has launched a global ad campaign called 'Africa works', showing Africans working for themselves to beat poverty and promote equitable development.

The global campaign promotes the Birima micro-credit program in Senegal, founded by Senegalese singer Youssou N'Dour.

The campaign features Senegalese workers who have used micro loans to start small, productive businesses, including a fisherman, a decorator, a musician, a jewellery-maker, a farmer, a tailor, two textile sellers and a boxer.

The campaign is aiming to show these workers as a symbol of an Africa that uses the dignity of work to fight poverty, promote equitable development, maximise its resources and take back responsibility for creating its future.

In addition to outdoor and press advertising, the campaign will include a series of projects and events. There will be a new version of N'Dour's Birima song, which was first recorded in 2000 and rearranged by him in 2008 with the participation of singers Patti Smith, Simphiwe Dana, Irene Grandi and Francesco Renga

Birima, the name of the programme, was a legendary king of Senegal who, speaking to his people only once a year, became a symbol of the value of keeping one's word.

More ad images here.

Benetton is famous for its "United Colors" campaign by photographer Oliviero Toscani who created ads that contained striking images unrelated to any actual products being sold by the company.

The ads featured a variety of 'shocking' subjects such as a deathbed scene of a man (AIDS activist David Kirby), a bloodied, unwashed newborn baby with umbilical cord still attached, two horses mating, close-up pictures of tattoos reading "HIV Positive" on the bodies of men and women, a collage consisting of genitals of persons of various races, a priest and nun about to engage in a romantic kiss, and pictures of inmates on death row. The company's logo served as the only text accompanying the images in most of these advertisements.

Benetton's core business is clothing with the casual line marketed as the "United Colors of Benetton", a fashion-oriented "Sisley" division, "Playlife" leisurewear, and "Killer Loop" streetwear brands.

Lexus' Agency Team One Hires New CEO: Brian Sheehan Out, Jack Mickle In

My agency alma mater, Team One Advertising, the agency behind Lexus (for over 20 years) as well as Ritz-Carlton, Bombardier's Flexjet, and Whole Foods has hired a new agency chief.

Jack Mickle will replace Brian Sheehan as CEO. Mickle, is currently CEO of Saatchi & Saatchi Japan (a sister shop to Team One) and will report to Saatchi & Saatchi Los Angeles CEO Kurt Ritter, whose role has been expanded to include all West Coast operations.

Adweek says that Sheehan's departure is voluntary. He has accepted a teaching position at the S.I. Newhouse School of Public Communications at Syracuse University while he earns a doctorate degree in history.

When An Image No Longer Can Be Sharpened: Sharper Image Files For Bancruptcy

This is a cautionary day for businesses of all types.

The Sharper Image, icon of brand gadgetry, and rising star of 20 years ago, has announced that it has filed for bankruptcy protection after years of slipping sales, stiffening competition and image problems over its Ionic Breeze air purifiers.

And, why the lack luster sales? Sharper Image had a lack of brand loyalty (1X shoppers bought those $5K massage chairs and didn't come back), and a failed strategy of offering distinctive, even zany products that could not be found anywhere else, to compete with bigger electronics retailers. But if products were not a "hit, " Sharper Image's profits would suffer. And, suffer they did.

The New York Times reports that the chain began experiencing “steady sales declines,” in 2004, with profits falling throughout 2005, 2006 and 2007.

The retailer’s management now says that 90 stores, about half of all Sharper Image’s outlets, are performing poorly and should be closed “as soon as possible.”

Kirstie Alley and Jenny Craig Divorce. Kirstie Finds A New Love In Her Life.

Earlier, I blogged about the divorce of Kirstie Alley and Jenny Craig. Like many divorces (business or personal), the initial word was civil: Jenny parted ways with spokesperson Kirstie since she's in "maintenance mode" on her diet.

Then, more nasty details emerged. It seems that the parting of ways was about contract negotiations. As a result of not being able to come to agreement, Alley was ultimately given the 'huff out the door, and is now developing plans to create her own diet company.

From Jenny Craig:
“We are sorry that she did not accept our offer” to continue appearing in the company’s ad campaign, Scott Parker, vice president of marketing for Jenny Craig, told People. “We wish her all the best in her future endeavors.”

And, for those future endeavors:
Alley said she intends to develop her own weight-loss brand with plans to launch in 2009. She says that she wants to “to create something new that will help millions of people end the seemingly never ending fatty-roller coaster ride.”

Source: MSNBC

BAM! Martha Stewart To Buy Emeril Lagasse

Martha Stewart Living is buying the rights to the Emeril Lagasse franchise of cookbooks, television shows and kitchen products for $45 million in cash and $5 million in stock at closing.

The AP reports that the deal does not include "Emeril's Homebase", which includes Lagasse's 11 restaurants and corporate office.

Lagasse joined the Food Network in 1993 and has hosted over 1,600 shows. His programs "The Essence of Emeril" and "Emeril Live" reach more than 85 million homes daily.

More at Forbes.

Apple and American Idol To Make Beautiful Music Together

It is the perfect brand match up. Apple is now joining Coke, Ford and AT&T as a major promotional partner for Fox's "American Idol."

The deal calls for iTunes to become the sole online download supplier, the iPod to be the series' official MP3 player and the iPhone the official handset. Downloads of "Idol's" top 24 semifinalist performances will be available the day after the show is broadcast, and only on iTunes.

More at The Hollywood Reporter