Sales / Ad

South Korea's Hyundai Motor said Thursday that its second-quarter net profit declined nearly 11% despite higher sales, and vowed to fight high oil prices by aggressively exporting more fuel efficient vehicles.

Ford Motor Co. says it lost $8.7 billion in the second quarter largely because of a reduction in the value of assets.

Sen. Barack Obama's campaign will be among the TV sponsors of NBC Universal's Olympics coverage. In the first significant network TV buy of any presidential candidate in at least 16 years, the Obama campaign has taken a $5 million package of Olympics spots that includes network TV as well as cable ads.

Chrysler LLC says it will cut 1,000 salaried jobs worldwide by Sept. 30. It says the layoffs are needed because of the prolonged slump in the U.S. auto industry.

Toyota sold more than 4.8 million vehicles worldwide in the first half, up 2% from the same period a year earlier, the Japanese automaker said today. That exceeded General Motors Corp.'s sales of 4.5 million vehicles in the same period, setting up Toyota to potentially end GM's 77-year run as the world's top automaker by sales.

The good news for NBC, just three weeks before the Summer Olympics, is that it's sold 90% of its ad inventory. The not-so-good news is the remaining 10%. Media buyers say demand is sluggish and a good chunk of these spots will likely remain unsold when the Games begin on Aug. 8.

Entertainment portal/ad network Giant Realm today is expected to announce several new exclusive rep deals with online communities focused on television and movies. Founded by the William Morris Agency in mid-2007, Giant Realm's core network of some 30 publisher sites revolve around the booming world of video gaming.

After at least 30 years of banning paid advertising, the Department of Veterans Affairs has decided it's OK after all. Under congressional pressure, VA Secretary James B. Peake has dropped the department's longstanding ban and is about to issue its first request for proposals seeking an agency to develop communications to reach the nation's 24 million living veterans.

Ogilvy & Mather Group is set to name Miles Young to succeed longtime worldwide CEO Shelly Lazarus, sources say. Young is chairman of the group's Asia-Pacific region.

Ford plans to bring six small vehicles to the U.S. market from overseas to meet growing demand for more fuel-efficient options.