Will P&G cancel its 2nd quarter options?

With the end of its fiscal year approaching, Procter & Gamble this week must decide whether it will exercise the majority of its cancellation options in the second quarter scatter market–as it has done in the pastor stick by its upfront commitments.
The question of whether P&G will go with the hand it dealt the Big Three networks during the upfront– or fold–has already forced other packaged goods companies and P&G agencies to reshuffle their cards.
“If they’re going to cancel in the second quarter, you can bet we’ll use it in our favor,” said one national TV buyer for a prime P&G competitor.
Fueling the belief that the Cincinnati-based giant may be ready to cancel second quarter inventory is that it requested– and was granted, of course–a 30-day extension for cancellation options in the second quarter.