Reading in the Economist, Feb 24, it looks like the media recession, that began in 2000, won't be ending soon. In fact, it may get worse before it gets better. Ad buys in 2008 can expect to rise thanks to to presidential election and the Olympics, but after that, unless the worldwide economy picks up, there should be a sharp drop in 2009. That's when we can expect another cleansing and consolidation of the media. Even online advertising is expected to drop.
The reason? Whenever cuts are to be made, the organization charged with growing the market -- marketing -- is cut. then companies realize they lost market share during a downturn -- because they aren't marketing -- and start pumping money into the department again.
Wouldn't it be amazing if the corporate lemmings suddenly realized this cycle and decided to spend their way out of a downturn ... just like good investors do?