Underscoring a weak market for TV advertising, analyst Robert Fishman of MoffettNathanson Research has cut his forecast for the second-quarter ad revenue figures media companies will be reporting over the next few weeks.
Fishman said he expects The Walt Disney Co. to report a 6% drop in cable ad revenues in calendar Q2, compared to his earlier estimate of a 3% drop. He also expects Paramount to report a 17% drop in cable ad revenue, compared to the 15% decline forecast earlier, and AMC Networks’s ad revenue to be down 12%, compared to 10%.
