26 April update:
Southwark Council this week refused planning permission for the billboard, on the grounds of it being a "harmful and unsympathetic development that would have a significant detrimental visual impact".
King's Reach tower on the South Bank could be transformed into the capital's largest billboard ad under proposals currently being scrutinised by Southwark council, reports Skyscraper News.
Designed by Londonist fave Richard Seifert, the former HQ of IPC Media is currently awaiting refurbishment into new apartments, a project that isn't likely to begin until 2013. In the meantime the proposal is to hang a series of four PVC billboard ads to the façade for a four-month period this year, with the ads ranging in size from a modest 37 metres in height to an immense 69 metres. If approved, the ads would be displayed between May and September this year, cashing in neatly on the billions of eyeballs that will be trained on London during the Olympics. They may also return in 2013 during the refurb work.
It's not the first piece of gargantuan Games-related advertising we've seen — in 2010 a plan was hatched to transform Tower Bridge into a giant billboard, though it was quashed following much criticism. The South Bank itself is no stranger to large-scale images on buildings: the Hayward Gallery regularly drapes itself with images from current exhibitions, while last year Aviva plastered images of everyday Londoners across the side of the National Theatre.
If the proposal does go ahead, fans of 2000AD would be well advised to petition Southwark council to retain at least one of the billboards for a giant image of Tharg's grimacing visage.