Prudential looks for a new ad agency

Hi and welcome to Insider Advertising for February 22. I'm senior advertising reporter Lauren Johnson, and here's what's going on:

• Prudential looks for a new ad agency.
• The Independent eyes acquisitions.
• Facebook negotiates with Australia.

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Tips, comments, suggestions? Drop me a line at LJohnson@businessinsider.com or on Twitter at @LaurenJohnson.

Prudential is shopping for a new ad agency after years of handling most of its advertising itself

• Prudential is shopping for a new ad agency for the first time in more than a decade, Patrick Coffee and Lindsay Rittenhouse report.
• The development marks a big change for the company, which was early to create an in-house agency.
• Prudential reported its first loss since 2013 due to the economic downturn.

Read the story.

UK news site The Independent is looking to make its first acquisitions as it ramps up global expansion

• The Independent is in discussions to acquire or take stakes in other companies, sources told Lara O'Reilly.
• Prospective takeover targets include international media outlets and tech firms.
• The talks come after a solid year of financial performance and a strong start to 2021.

Read the story.

Facebook is back at the negotiating table in Australia, the prime minister says

• Facebook's decision to block news erased several state government and emergency department accounts.
• Treasurer Josh Frydenberg said he spoke with CEO Mark Zuckerberg Friday and talks were expected over the weekend.
• Facebook is opposing Australia's proposed law requiring social media platforms to pay for links to news.

Read the story.

More stories we're reading:

• What you need to know about Section 230, the controversial internet law Trump hated and Biden might reform (Business Insider)
• GEN Z VCS: Meet the top 29 up-and-comers changing the world of venture capital (Business Insider)
• Chick-fil-A's out-of-control drive-thru lines have it facing off against local businesses and battling lawsuits (Business Insider)
• Los Angeles Times owner exploring sale of company (Wall Street Journal)
• Vizio accelerates its streaming ads business as the CTV arms race heats up (Adweek)

Thanks for reading and see you tomorrow! You can reach me in the meantime at LJohnson@businessinsider.com and subscribe to this daily email here.