Laser Sales is understood to have backed down from forcing CIA Medianetwork to agree airtime sales deals covering 1997 as a condition of an end to the legal dispute with the media buying agency.
Both sides involved in the dispute confirmed they were edging towards an agreement as Marketing Week went to press. A formal settlement could be agreed by the end of the week.
Neither side would comment directly on the detail of the expected deal. Laser’s early insistence that CIA give undertakings on airtime deals struck with Laser for 1997, to help resolve disputes covering 1995 and 1996, now appear to have been dropped.
CIA Medianetwork managing director Mike Tunicliffe says: “Both sides have sat down over the past few days and have a broad framework for a deal which will settle all issues. We are confident the disputes will be resolved within the next few days.”
Any deal will end a month of brinksmanship which has seen Laser clients Yorkshire Tyne-Tees, Granada/LWT and Border issue writs against CIA, and a threat by Laser to suspend CIA credit at the end of the year unless the situation is resolved.