Magna vice president Bob Coen has downgraded his 2008 ad spending projections by 2.7% for national advertising and 4% for local spending. National ad spending in 2008 is estimated at $193 billion,
$5.5 billion less than Coen originally projected in December. Also, local ad spending will be $92 billion, down from an earlier estimate of $95.8 million. Overall, total ad spending in 2008, is
slotted at $285.1 billion, up 2% from last year.
