General Motors is gearing up to buy commercial time during next month’s upfront marketplace even as the struggling carmaker lurches toward bankruptcy, reports The NY Post. “We are participating in the upfront,” spokeswoman Kelly Cusinato told the paper. “It’s too soon to say what level we will commit.”
Plenty of media companies have doubts about GM’s ability to pay and want to limit their exposure. But the abysmal ad market means they aren’t in a position to turn the carmaker away or make unusual demands.
“You’re worried about GM’s ability to pay and not sure when it will catch up with you, but you take the money and hope the risk doesn’t materialize,” one ad buyer told the paper. “Or you can chose to turn it down, but then who do you replace it with?”
Speculation has been that GM would be forced to sit out the negotiations next month. GM faces a 6/1 deadline from the government to slash its debt and cut costs or face bankruptcy.