After the fall: Ad spending continued recovering in late 2002, thanks to a surge in political advertising that helped local media post healthy gains. Year-over-year comparisons with the post-Sept. 11 period in 2001 made last November look stronger. Even business-to-business publications seemed poised to end their long slide as they came close to breaking even in November.
LOSERS: For the first time in the AdMarket's five-year history, none of the 50 index stocks showed a gain for the week. The markets dropped to four-month lows Feb. 7 after federal authorities raised the country's threat assessment to orange, the second-highest rating. All AdMarket stocks but one were down. The closest thing to a winner-Cordiant Communications Group, unchanged for the week-slumped to an all-time low of $2 on Feb. 6.
Primedia's announcement that it is looking for buyers for Seventeen magazine didn't sit well with investors, who also sold off Interpublic Group of Cos. amid concerns over the loss of Coca-Cola Classic work and the possibility of a dividend cut (AA, Jan. 27).