Dot-com ads outstrip $1 billion milestone

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New York--Advertising by dot-com companies surpassed $1 billion for the first time, according to Competitive Media Reporting, a research company. Companies involved in electronic commerce spent $1.37 billion on advertising in traditional media between January and September, up from $349 million during the same period last year. Two of the top three dot-com company advertisers have significant business-to-business operations. E*Trade Group, Menlo Park, Calif., was the biggest spender, racking up $89 million in the first nine months of 1999. Charles Schwab & Co., San Francisco, was third, with $40 million.
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