rocter & Gamble, one of the world�s bigger advertising spenders, is reportedly slashing its US television advertising budget. The packaged goods giant, which makes everything from Ariel detergent powder to Hugo Boss fragrances, and recently bought Gillette, is to slash its adspend on cable television by 25 per cent, and on terrestrial TV by 5 per cent, according to the Wall Street Journal.

Procter & Gamble, which spent �1.4 billion - 80 per cent of its advertising budget - on television last year, did not confirm the figures. The move came to light when the company negotiated its spending with television networks during the "upfront" season, where major advertisers of the stature of Procter & Gamble buy airtime in bulk deals at the start of the year to save money. The company is unlikely to repeat such a dramatic move in Britain.... more