Tuesday, April 21, 2009

Ad slump ending, Transcontinental CEO says

The 2008 slump in newspaper and magazine advertising is stabilizing in Canada and probably in the U.S., Francois Olivier, CEO of printer-publisher Transcontinental Inc., said Monday.

"The signs give us hope in Canada but we won't get a firm idea where the market is heading until autumn," he said after addressing the Canadian Club of Montreal.

"The recession started much earlier in the U.S. than in Canada and we need to see a recovery in banking and financial services there," he added.

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