Media-buy firms close

By ADAM GIFFORD

The brave new world of internet advertising has been less than utopian for the media-buying arm of Brave New World and associated company WebMasters Network.

Managing director Frank van der Velden said the businesses would cease operating this week.

Ten people have been made redundant, and Brave New World Media general manager Margie Gilbride is moving to a media consulting role.

Brave New World will continue with about 50 staff as a web design, advertising, media planning and campaign marketing shop. Another associated business, Touchpoint, which specialises in e-mail marketing campaigns, will also continue.

WebMasters represented websites seeking advertising from New Zealand advertisers. Its most successful customer was the AltaVista NZ search site, which will be supported from the AltaVista Sydney office.