British commercial broadcaster ITV has been hit harder than expected by the downturn in advertising spending, the London Sunday Times reported. The newspaper, citing confidential documents that it had obtained, says that ITV’s ad revenue for June is expected to be 25 percent below what it was for the same month a year ago. The newspaper says that many of ITV’s advertisers have been lured away by lower rates being offered by competitors, including Channels 4 and 5 and the country’s satellite and cable operators.
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