Carat Exchange Wins Reprieve

May 30, 2008  •  Post A Comment

Reports of the demise of the Carat Exchange, a forum where the ad industry can trade information about the digital television world, are premature.
A day after Mitch Oscar, the executive who ran the exchange, announced in an e-mail that the June 11 meeting of the exchange had been canceled and that the agency had decided not to fund the exchange in the future, Carat said the exchange was being re-launched.
The new Carat exchange will cover topics in all areas of media and marketing, according Scott Sorokin, president of Carat.
“Digital television is an important area for us to continue to explore—but we also want to ensure that our agency is examining, leveraging and educating the industry across multiple mediums,” Mr. Sorokin said.
Last year Carat combined its traditional media buying operation with its interactive group.
“The new Carat Exchange will create a forum across disciplines that represent our ability to activate brands and tap into the mind of the consumer across the marketing spectrum,” he said.
Ms. Oscar had said the exchange was shutting down partly because Carat Americas CEO David Verklin was leaving the agency. Mr. Verklin had started the program and put Ms. Oscar in charge.
Carat has also lost a number of accounts in the past year.
“Due to budgetary considerations, Carat’s new management has decided against funding future Carat Exchanges, he said in his e-mail.
(Editor: Baumann)

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