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MEDIA
Time ups stake in mag marketer
The magazine arm of AOL Time Warner will buy most of privately held Synapse. It markets subscriptions for consumer magazine publishers via new channels such as frequent-flier programs. Time owns 25%. AOL has touted the benefits of using its own online assets to boost subscriptions. Time last week shuttered three publications -- On, Family Life and Asiaweek -- due to weak ad spending.
Mild ad recovery seen by Q4 '02
Global ad spending will pick up by the end of next year, leading to an '02 decline of 1.3% after a 5.8% fall in '01, ad researcher Zenith Optimedia said. Universal McCann expert Robert Coen sees U.S. ad spending up 2.4% to $239.3 bil next year. He forecast a 4.1% drop this year. Zenith said the U.S. market won't fully recover until '04.
Court declines to hear cable case
The Supreme Court won't consider reinstating restrictions on the number of subscribers cable firms can have. An appeals court earlier this year struck down FCC rules limiting cable firms to 30% of the U.S. market. AT&T's Broadband unit, which other cable firms are bidding for, has 40% of the market.