An exclusive $14.5m (£10m) advertising deal has been signed up between Time magazine and The Swatch Group.
The deal enables The Swatch Group to run its 2003 advertising campaign in the international editions of Time, covering Europe, the Middle East and Africa, Asia and the US.
Under the deal, The Swatch Group has secured a range of double-page spreads and prime advertising positions that will run in Time for some of its top-end luxury and prestige brands.
The deal was completed by Time's Swiss managing director, Irina Hartmann.
Hartmann said: "Time and The Swatch Group have enjoyed an excellent relationship for many years and we
are delighted that they are extending their reach into other worldwide editions."
Andrew Butcher, president and publisher of Time and Fortune International said: "This deal demonstrates Time's ability to provide a truly global campaign for the world's leading watch manufacturer.
"The campaign's key positioning within Time's international editions will create premium reach for Swatch's prestigious range of products."