Advertisers want to be associated with companies and causes that their customers, employees, investors and other stakeholders like, trust and believe in. A scandal such as the one unfolding around News of the World was so big and so public that neither the paper nor its advertisers could afford to wait to make decisions about how to proceed. In fact, when Virgin found out its ad was already printed for the final News of the World Sunday edition, it tweeted to say there was nothing it could do to stop the ad from appearing.
Other media vehicles began courting advertisers even before the closure was announced. In an e-mail to advertisers who usually use News of the World, the Mail wrote (in part): 'In light of the public outcry with the News of the World and also hints that key advertisers such as yourselves may be pulling away - is there anything we can do to support you this coming weekend in terms of copy?' With the closure just two days away, both the Mail and the Mirror are preparing for a massive print run to capture News of the World readers this Sunday.
Now that News of the World is gone, management is scrambling for explanations and UK officials are planning to investigate. Few advertisers would have risked their reputations by remaining with the tabloid if it had tried to go on. Trust takes time to build but can be destroyed very quickly if there's no transparency.
