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| Coke touts old victory, is on verge of new one It's old news but still good news, as far as Coke is concerned. On Tuesday, the soft drink giant announced a deal to supply beverages to Regal Cinemas, a big theater chain. The account actually was awarded last year. But Regal's previous deal was with Coca-Cola's archrival, Pepsi, and those two companies are locked in battle. Coke kept quiet about the Regal switch last year, and so did the theater chain. Pepsi, however, has been aggressively seeking fountain accounts. Pepsi has signed other high-profile deals lately, such as a sponsorship with the National Football League. Coke decided to put one in its win column by touting the Regal deal. Coke also announced another deal: the renewal of a contract with Delta Air Lines. Pepsi, which recently took United's business from Coke, took a serious run at winning the Delta account. Regal operates more than 300 theaters and is part of a company that includes two other chains, United Artists Theatres and Edwards Theatres. The three companies came together after each declared bankruptcy. Coke was already a supplier to United and Edwards. Coke's seven-year deal with Regal will involve drinks, plus a marketing partnership. It gives Coca-Cola a bigger share of the theater market. Coke's announcement of the accord was met with a shrug from Pepsi headquarters. "This is an old movie," said spokesman Larry Jabbonsky. |
