MAGNA revises ad forecast upward

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New York—Citing positive indicators for the economy, media agency MAGNA revised its U.S. ad revenue forecast to a 1.3% decline next year, up from an earlier projection of a 2.1% decline.

MAGNA, a division of IPG’s Mediabrands, pointed to higher expectations for industrial production in revising its forecast for 2010.

For the fourth quarter, MAGNA projected a 9.0% decline in normalized U.S. revenue (excluding local TV political ads and national TV Olympic ads).

However, the rate of decline is slowing, MAGNA said. For the third quarter, U.S. ad revenue declined by approximately 13.0%; and for the first two quarters, ad revenue declined by an estimated 18.0% per quarter.

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