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    D&AD cuts back staff due to pandemic; CEO Burgoyne steps down

    By SHOOTUpdated:No Comments1888 Views
    Patrick Burgoyne
    LONDON --

    Due to dramatically decreased revenue during the pandemic, D&AD has as part of a survival plan significantly reduced its number of staff members and reconfigured its sr. management team.

    CEO Patrick Burgoyne has unselfishly volunteered to relinquish his role and step down, according to a D&AD statement which thanked him for years of service, first as a trustee and then, since December 2019, as CEO.

    Long-serving COO Dara Lynch will now take the reins of D&AD, supported by the sr. management team–president Kate Stanners, deputy president Ben Terret, and the board of trustees. Tim Lindsay will also continue to play an active role as D&AD chairman.

    The changes are designed to enable D&AD to perform on three fronts: First, to continue to run the D&AD Awards to its usual high standard; second, to continue to support the emerging cohort of creative talent as it seeks opportunities in the advertising and design industry, through the New Blood program; and third, to rebuild company reserves so that D&AD can be shaped for a different, primarily digital, future.

    D&AD is a charity devoted to stimulating, celebrating and enabling excellence in commercial creativity, serving the global creative community with its awards, festivals and learning programs.

    Tags:Ben TerretD&ADDara LynchKate StannersPatrick Burgoyne



    DirecTV calls off acquisition of rival Dish, possibly ending a yearslong pursuit

    Friday, November 22, 2024
    Dish Network satellite dishes are shown at an apartment complex in Palo Alto, Calif., Feb. 23, 2011. (AP Photo/Paul Sakuma, File)

    DirecTV is calling off its planned acquisition of rival Dish after the offer was rejected by bond holders at that company.

    The deal was reliant on Dish bond holders agreeing to trade in the debt they held for debt in the new company, a swap that would have cost them about $1.6 billion, collectively.

    The retreat by DirecTV this week may end a years-long effort by the company to acquire both Dish and Sling after it announced the bid in September.

    DirecTV was looking to acquire Dish TV and Sling TV from its owner EchoStar in a debt exchange transaction that included a payment of $1, plus the assumption of approximately $9.8 billion in debt. The deal was contingent on several factors, including regulatory approvals and bondholders writing off debt related to Dish.

    "While we believed a combination of DirecTV and Dish would have benefited all stakeholders, we have terminated the transaction because the proposed exchange terms were necessary to protect DirecTV's balance sheet and our operational flexibility," DirecTV CEO Bill Morrow said in a statement.

    The prospect of a DirecTV-Dish combo has long been rumored, and reported talks resurfaced over the years. And the two almost merged more than two decades ago — but the Federal Communications Commission blocked the deal valued at the time at $18.5 billion deal, citing antitrust concerns.

    The pay-for-TV market has shifted significantly since. As more and more consumers tune into online streaming platforms, demand for more traditional satellite entertainment continues to shrink.

    DirecTV says that it will continue to invest in next-generation streaming platforms and offer new packaging options while integrating content from live TV alongside direct-to-consumer... Read More

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