Tuesday, January 26, 2010

Court Ruling to Deliver $300M Boost to Media

NEW YORK (AdAge.com) -- President Barack Obama may have condemned last week's Supreme Court decision as bad for democracy, but one thing is almost certain: It will be good for the media business.


In the wake of the high court's 5-4 decision overturning campaign finance laws, media companies and agencies were digesting the impacts -- more direct spending by corporations, unions and wealthy individuals, as well as more issue-oriented money pouring into the system. And much of that additional money -- $300 million, according to a Needham & Co. estimate, on top of the predicted $2.8 billion -- will flow to local TV stations.


Couple the Supreme Court's decision with the Scott Brown Senate win in Massachusetts, which has "Republicans smelling blood in the water" and we'll see 10% more political ad dollars, said Laura Martin, a Needham analyst. "These two factors work together to create an arms race between corporations and unions, and the only weapons dealers are the local TV stations," she said.


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