GM Bails on Oscars, Emmys

August 18, 2008
2007 Cadillac Escalade 2WD 4dr exterior front left

2007 Cadillac Escalade 2WD 4dr exterior front left

The Dark Knight and the also frightfully made-up Desperate Housewives will have to do without a big sugar daddy next year, as General Motors is dropping its advertising commitments to the awards shows.

As GM slashes its operating costs company-wide, it's leaving the two awards shows on the cutting room floor, reports the Detroit News. The sponsorships are coming after GM reported a big $15.5 billion loss in the second quarter and as the company retrenches its marketing efforts.

GM was the top sponsor for the Academy Awards and spent almost $100 million with the Oscars over the past decade, the News reports. The company still spent more than a half-billion dollars on marketing in the first quarter of 2008, the paper adds.

Left untouched is GM's sponsorship of the 2009 Grammys, the Golden Globes, and the Country Music Awards.

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