Yikes

From the New York Times "TV Decoder" section:

The bottom seems to be falling out of local broadcast television advertising sales, according to a report that came out on Tuesday.

In the report, the trade association for TV stations, the Television Bureau of Advertising, revised significantly downward its previous forecasts for results in 2009 as well as for this year. The updates come only two months after the bureau issued its predictions.

...

“These are not happy numbers to report,” Chris Rohrs, president at the bureau, said in a statement, “but they are the new reality.” The “unprecedented economic developments” since the summer led the association to reconsider the previous forecasts, he added.