Unilever, Time Warner extend marketing deal
NEW YORK -- Media conglomerate Time Warner Inc. and Unilever NV said Tuesday that they're renewing a partnership to promote the consumer product maker's brands.
The three-year deal extends a partnership the two have had since 2007 to market Unilever's products through Time Warner's global media group.
The companies didn't disclose what brands were involved in the deal, or the partnership's value, but Unilever's brands include names like Lipton tea, Dove soap and Ben & Jerry's ice cream. Previous efforts between the duo have included creating a "content series" for Caress soaps and body washes along with an online dinner for busy moms that promotes the company's Knorr food brand.
Such pairings aren't unusual. Earlier this year, Procter & Gamble reached a deal to advertise its popular consumer products on the Oprah Winfrey Network when it launches in 2011 through a joint venture between Winfrey's Harpo Inc. and Discovery Communications Inc.
Shares of Time Warner, based New York, rose 82 cents or 2.7 percent to $30.92 in trading Thursday. Shares of Amsterdam's Unilever climbed 81 cents, or 2.8 percent, to $29.65.