The company is particularly bullish on national advertising, noting a "transformative 'Wal-mart effect' taking place in media that structurally favors national advertising, as the impact of scale disparity in corporate America has a gradual structural impact on multinationals' advertising and maketing strategies. Long-term, it's predicted local media will lose share to consolidated national media budgets. For now, in a political year, local markets should reap rewards.
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