L'Oreal exit leaves smudge on Oscars

February 17, 2009 On the red carpet, austerity is generally about as well received as a surprise cameo appearance by Robert Blake, and yet a grim economic outlook could cause the mood at this year's Academy Awards to be as subdued as the 2002 ceremony. Besides losing a backer with deep pockets -- since 2004, L'Oreal's Academy Awards spend has added up to $40.9 million, per TNS Media Intelligence -- ABC is heading into the week with a significant chunk of unsold inventory. While the network would not comment on how many avails it had on its hands, as of Friday, media buyers estimated that ABC still needed to move 6-8 spots, or about 12% of the time that would constitute a sellout.

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