Richard BransonThere could be a beverage war brewing -- or it might it all fizzle out? Apparently, Virgin Atlantic is launching not another transatlantic route or new aircraft but its own soft drink, called Virgin Cola. Richard Branson, Virgin chairman, announced the beverage launch in full-page newspaper ads in which he proposed that he and Douglas Ivester, president and CEO of Coca-Cola, avoid the mess and expense of the battle for market share. Branson pointed out that both Virgin Cola and Coca-Cola "will have to spend millions of dollars on advertising, celebrity endorsements and those pesky promotions designed to undercut one another." His solution? "Let's arm wrestle. Winner takes all. The loser promises to never sell his cola in the U.S. again," Branson wrote. In the dog days of summer, this is a battle that could have some pop.

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