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Procter & Gamble Cuts Ad Spend, Sells Rochas

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According to reports, Procter & Gamble Co. (Cincinnati) has confirmed that it will be selling Rochas to Inter Parfums for $108 million.

The move is part of a broader P&G divestment strategy that could reportedly encompass some 100 brands.

The announcement follows another report noting that P&G cut its online display ad and traditional ad spending by 14.4% in 2014, totaling $2.6 billion.

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