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Media Owners Brace for Tougher '09

Many media sellers finally gave up meeting their 2008 targets last week, and despite cautiously optimistic messages from top management, media players are girding for intense battles over shrinking ad budgets.

Booming financial advertising stalled in the first half of 2008, matching the $4.5 billion spent in the first half of 2007. Look for a big decline in the second half of this year, say experts.

Ad-industry analysts are concerned with the domino effect on consumers. The financial industry moves "could affect unemployment drastically over time, which affects travel and credit cards and consumer spending. I think there is more of a long-term effect for us than there is short term," says Donna Speciale, executive at Publicis' MediaVest USA.

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