An analyst who has long followed trends in advertising spending is slicing his estimates for growth and predicting that a significant recovery is “unlikely” before 2010.
In a report issued on Monday, Leland Westerfield of BMO Capital Markets cut in half his estimate for ad spending growth in 2008. Instead of a gain of 3.6 percent compared with last year, as he forecast earlier, he is now predicting a gain of 1.8 percent.
http://tvdecoder.blogs.nytimes.com/2008/07/07/ad-forecast-grows-increasingly-cloudy/
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