By: E&P Staff Chase Card Services said Friday that it paid less than half the reported $1 million to have its Chase Sapphire card as the exclusive sponsor of The New York Times iPad app for the first 60 days of its launch.
Many news outlets, including E&P, picked up a report Wednesday by TBI Research Director Rory Maher that the charter sponsorship cost about $1 million for a "three- to six-month" deal that was "part of a larger media commitment."
But in a prepared statement, Chase spokesperson Laura Rossi said the TBI figures were way off.
"The Chase paid much less than the amount that has been reported; in fact, Chase paid less than $500k for this exclusive sponsorship," she said. "This opportunity is an extension of an ongoing relationship with the NYTimes including print and online."
The sponsorship was for 60 days not three to six months, she added.
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