Has TV Advertising 'Bottomed Out'?

Television advertising has "bottomed out" and broadcasters may post better-than-expected advance sales for the 2009-2010 TV season, NBC Universal Chief Executive Officer Jeff Zucker said. Zucker's comments echo those of CBS Corp., Walt Disney Co.'s ABC and Viacom Inc., owner of MTV and Nickelodeon, which have reported signs ad revenue is leveling off. Last week broadcasters released schedules for the 2009-2010 TV season, ahead of talks with big advertisers. NBC Universal also operates cable channels such as Bravo and USA. Broadcast network advertising will fall 10 percent this year to $12.8 billion, Michael Nathanson, an analyst at Sanford C. Bernstein & Co., projected in a May 26 note to investors. National cable advertising will drop 3 percent to $20.9 billion.