Advertising Roundup: Super Bowl Not Sold Out; DeWitt RIP; Valassis Debt Reorg; More ...

(MoneyWatch)  AKQA is now the AOR for The New York City Ballet -- The agency will be responsible for social media stuff, a website re-design and a new ticketing system. [Source: AgencySpy]

NBC still selling Super Bowl spots -- Five hours of pregame coverage also open. "Traditionally, much of the pregame inventory moves the week of the game," said NBC spokesman Brian Walker. "Given the economy, it's a testament to the power of the NFL brand and the Super Bowl as a television property that we have been able to be so successful." [Source: WSJ]

Media veteran Gene DeWitt dies at 65 -- He founded DeWitt Media. He watched the industry evolve from the "Mad Men" era to the MySpace era, and he had strong feelings about the direction things went. DeWitt died last Thursday at age 65 of pancreatic cancer. He was one of the best-known names in media, with stints at BBDO and McCann Erickson before founding DeWitt Media in 1984. [Source: MediaLife]

Akron extends billboard reg delay -- City Council again extended its moratorium on legislation focusing on city billboards. A two-week delay was approved by council Monday to allow members more time to research the potential legislation and consider a study on billboards by the U.S. government. Council is expected to settle the issue at its Feb. 9 meeting. A neighborhood group contends billboards blight the city and that Akron's billboard laws are not strict enough. Clear Channel Communications, which owns most of Akron's billboards, opposes any changes. [Source: Ohio.com]

Lamar sales rep resigns from Lebanon city council -- Darryl Cox, an account representative for Lamar Advertising, Cox, 55, was elected in 2005 and is currently chairman of the council. He said he is tired of the stress of the position and wants to devote more time to his family and job. "It has been a very rewarding four years, and I've enjoyed it," Cox said. "I ran to try and help make a difference and help the city move forward, and I think I've done that." The mayoral seat is also on the ballot, but Cox said he had no plans to run for that position. However, he did not rule out a possible run for county commissioner in 2011. [Source: Lebanon Daily News]

IEG: Sponsorship set to crash -- The U.S. recession will lead North American companies to slam the breaks on sponsorship spending in 2009, especially for sports, leading to the smallest growth rate since tracking firm IEG began studying such data. North American companies are expected to increase spending on sports, arts, cause and entertainment marketing by just 2.2 percent to $16.97 billion, according to Chicago-based IEG, which is owned by advertising giant WPP. [Source: Reuters]

Valassis changes debt arrangments -- Valassis announced that it has entered into an amendment to its senior secured credit facility to, among other things, permit Valassis to use up to $125 million to repurchase its outstanding term loans under the senior secured credit facility at prices below par through one or more "modified Dutch" auctions during 2009. The amendment does not obligate Valassis to make any such repurchases. In addition, Valassis agreed to voluntarily reduce the availability under the revolving credit portion of its senior secured credit facility from $120 million to $100 million in exchange for the ability to keep $20 million of revolving loans outstanding at the time it commences any modified Dutch auction. As of Sept. 30, 2008, Valassis had $612.3 million of term loans outstanding under its credit facility. (Note to readers: If anyone understands what this means, please let me know.) [Source: press release]

Hill Holliday's John Connors sets up charity -- John Connors, president of the advertising agency Boathouse and son of Jack Connors, founder of Hill Holliday Connors Cosmopulos Inc., has launched an online charitable venture called SmallCanBeBig.org, according to Connors. SmallCanBeBig's goal is to connect donors with families who need help paying their heating bills, rent or medical expenses. [Source: BizJournals.com]