Migliozzi Foaming Up Pabst Bid11/28/2009 2:00 AM Eastern
The Federal Communications Commission is not alone in looking to crowdsourcing for help in an important undertaking.
Advertising agency executive Michael Migliozzi, perhaps best-known to Multichannel News readers as the guy who rebranded the Prayer Channel using the Devil as a spokeserpson, said in a release that made the rounds last week his ad agency, Forza Migliozzi, in tandem with the Ad Store, has raised several million dollars in its crowdsourcing bid to buy Pabst Brewing Co.
Migliozzi last year tried a version of crowdsourcing that didn’t fly. While a partner in Cesario Migliozzi, he attempted, unsuccessfully, to sell NBC on a co-op Super Bowl ad.
The almost $10 million the agencies say has been pledged so far is just south of 3% of what they will need for the $300 million purchase price of Pabst, so the case appears stacked against them. But, like a six-pack’s worth of beer, it’s all about the buzz anyway.
The buy for those wishing to become a part of the blue-ribbon committee running the brewery is $5. That is the “bottle” level, followed by “Six Pack Membership” ($25), “Case” ($100) and Brewmeister ($250,000).
The agencies will supply each pledge with the concomitant amount of beer, though it is unclear whether the $250,000 will actually secure brewing rights.