General Motors has recently come out from its bankruptcy with help of the US Government.

General Motors, which has long been one of the nation’s largest advertisers, shed 54 sponsorship contracts during its time in Chapter 11 bankruptcy protection.

This move will save millions in annual ad dollars to the company. The terminated contracts include ad deals with the Oakland Raiders, the University of Southern California and the Arnold Palmer Invitational golf tournament, the Chevrolet clock in Times Square – a deal which dates back seven decades.

GM has been trimming its ad dollars by stopping advertisements during the Super Bowl and the Academy Awards and cut ties with golfer Tiger Woods late last year.