Advertising hurting media firms
An article on AdWeek.com cites a UBS survey stating that media groups, CBS Corp and News Corp, are at risk to loose money due to their running automotive advertising. These two groups run a higher percentage of auto ads than their competitors who run more fast-food and consumer staples ads. During a recession auto advertising is more likely to suffer cutbacks than other ads, particularly film and entertainment, which do not seem to suffer as much.
On Wednesday, Reuters reported that Viacom, which is going through a ad growth slow down, views itself at less risk due to lower exposure to auto advertising.