Bob Coen, vp and director of forecasting for Magna, has downgraded his 2008 ad spending projections by 2.7 percent for national advertising and 4 percent for local spending, saying that the economy right now is worse than it appeared it would be back in December 2007 when he made his original 2008 projections.
http://www.mediaweek.com/mw/content_display/news/media-agencies-research/e3i3443c86fa467149ea78ef267ae9caabb
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