CIA and Laser have at last reached a final agreement to settle their airtime trading dispute. CIA will now pay £1.8 million to Laser in return for the sales house dropping legal action against the agency. The money represents the figure Laser claimed it is owed by CIA for outstanding sums in 1995 and 1996.
Chris Ingram, chairman of CIA, said: “Whilst we are pleased that agreement has finally been reached, we are obviously disappointed about the impact, albeit one-off, upon our profit record.”
CIA: 0171 633 9999
Laser: 0171 396 6000
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