CCTV auction tops $1 billion

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China Central Television took in a record 8.03 billion RMB, or $1.08 billion, at the annual auction on Nov. 18 of its most valuable air-time for the coming year. The 18% increase is due to a large number of newcomers taking part this year and higher spending among past participants such as Procter & Gamble Co. The marketers are all seeking greater media exposure in China next year, when Beijing will host the 2008 Olympic Games. In November 2006, CCTV reaped $862 million, up 16% over the previous year.
Source: GroupM
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