Followed by Sheik Mohammed bin Rashid Al-Maktoum’s instructions, government controlled radio stations, newspapers and television will be brought under the umbrella of one holding company. The emailed statement specifies that all assets, rights, contracts and liabilities will be transferred from Arab Media Group to Dubai Media Inc. 

Emirates Business 24/7 reports that Coca-Cola is planning a new formula for payment to its communications agencies, which will be value-based compensation that could lead to their profit margins as high as 30 per cent if their work meets the target figures.

Emirates Business 24/7 reports that the Advertisers Business Group (ABG) will focus on a new intitiative to develop an advertising code of ethics, and raise industry representation to government level. ABG presented its five-year strategy at a general assembly meeting.

Emirates Business 24/7 reports that the real estate industry slashed more than 69 per cent of its advertising budget in the last quarter of 2008.