Lehman Brothers lowers ad forecasts

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New York--Investment firm Lehman Brothers lowered its ad revenue forecast to a 5% to 6% decline this year, from a previous forecast of 2.3% growth, in the wake of the terrorist attacks. For 2002, Lehman Brothers projected flat to 1% growth from its previous forecast of 2.5% growth. Between $750 million and $1.25 billion was lost in overall ad sales in the days following the Sept. 11 attacks, Lehman Brothers said.
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