Local ad spending slow to recover
The big Wall Street news yesterday was Viacom telling investors its revenue projections would be down, because the market for local advertising hasn’t recovered as they’d hoped it would. The news affected stocks of many of broadcast companies as well as Viacom. The New York Times interviewed analysts who speculate that local merchants and dealers are simply not willing to bet on an economic recovery that they do not see and that local ad spending on stations might have been affected as Comcast and other cable companies become increasingly aggressive at selling local advertising.

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