Diary: M&C rues saving cash on subscribing to Sky

Ahead of its stock market flotation, M&C Saatchi is taking its responsibility for financial probity very seriously. But judging by recent scenes, there was a fear that it had taken things a little too far.

As agency staffers, plastic cups of warm lager in hand, assembled in the boardroom to watch England's crucial Euro 2004 encounter with Switzerland last week on ITV, they were horrified to discover that they could not get a picture. Of anything.

It transpired that Sky had pulled the plug on M&C for non-payment of subscriptions. We feel it is our duty to report that this was not because M&C was trying to look £40-a-month better off ahead of the float, but because someone forgot. So it may well still represent value for money.