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NEW YORK (AdAge.com) -- The sluggish pace of 2008 ad spending is starting to catch up with media companies. Second-quarter earnings reports from Viacom, CBS and Walt Disney Co. showed tiny growth in national ad sales and losses in many local sectors. CBS's president-CEO, Les Moonves, even began his company's call with investors by admitting, "We're clearly challenged by the economic conditions affecting many industries, particularly as it pertains to our local businesses." ...
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NEW YORK (AdAge.com) -- The sluggish pace of 2008 ad spending is starting to catch up with media companies. Second-quarter earnings reports from Viacom, CBS and Walt Disney Co. showed tiny growth in national ad sales and losses in many local sectors. CBS's president-CEO, Les Moonves, even began his company's call with investors by admitting, "We're clearly challenged by the economic conditions affecting many industries, particularly as it pertains to our local businesses." ...