Murdoch sees ad slowdown
You might recall that the News Corp. CEO and his seconds had been pooh-poohing for months any talk that the TV business was off. That was then. Speaking at a Bear Stearns conference, he's become "a lot more pessimistic about the economy," with Fox's local TV markets running 5 percent behind expectations. "We're doing very well indeed in New York, and very well in some markets like Atlanta and Orlando, and in other places it's softer," Murdoch said. He did add that News Corp.'s other businesses were doing well, so there won't be any downward revisions in earnings. (Silicon Valley Insider) At the same conference, Disney CEO Bob Iger wouldn't offer any comment or predictions, which some are bound to interpret as discouraging news.
2:44 PM Monday, March 10 2008 • Link
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