What's more, all of the ad industry's major rep firms have now committed as well to the system, a new electronic exchange known as TVB ePort, according to the Television Bureau of Advertising. The TVB ePort was announced Feb. 21 and received an infusion of seed money from the National Association of Broadcasters. The remainder of the funding will come from broadcast groups and rep firms.
Cox Television and News Corp.'s KTTV of Los Angeles and WNYW of New York have committed to the exchange, a sign that the industry is slowly working to modernize its systems after years of clinging to paper transactions. Rep firms now on board include ABC National Television Sales, CBS Station Sales, Fox Station Sales, HRP, Katz Media Group, MMT Sales, NBC Station Sales, Petry Television and Telerep.
The first phase of the electronic exchange will launch in November, letting buyers of ad time on local TV stations -- also known as "spot" -- to send first-quarter 2008 orders electronically. An entire suite of open transactions is expected to be available by March.