Global advertising set to rise in 2008
Monday, December 03, 2007

Global advertising revenue is set to grow 6.7 per cent in 2008, says a new report from media agency ZenithOptimedia.

The increase tops 2007's 5.3-per-cent rise in advertising and is partially being attributed to the Olympic Games, the United States presidential election, and the UEFA Euro soccer tournament.

The report also stated that ad spending on the Internet was forecast to increase 69 per cent by 2010, or a total of 11.5 per cent of total ad spending. That would place the Internet as the third top medium, displacing magazines.

In regards to credit issues that have been a problem in the United States, the report noted:

"While the credit squeeze is dampening economic growth around the world, we do not expect the ad market to follow suit," the report said. "Unlike in the periods leading up to the last two ad recessions, advertisers have not been increasing their budgets faster than warranted by economic growth."

Read more on the story at Report On Business.

Springhill-Parrsboro Record sold to Transcontinental
Monday, November 26, 2007

Transcontinental Media announced on Friday that they have acquired the Springhill-Parrsboro Record from Advocate Media Inc.

The Nova Scotia newspaper was established in 1929 and reaches 1,600 subscribers in Springhill.

"We have been honoured to have had the opportunity to report on, participate in and sometimes challenge the community," said Advocate Media president Sean Murray in The Amherst Daily News. "While the decision to sell The Record was not an easy one, we firmly believe that its staff and the community will continue to advance in the long term with Transcontinental's presence."

Advocate Media owns a number of weekly and monthly publications in Nova Scotia and New Brunswick, including four members of the Canadian Community Newspapers Association.

With the purchase of The Record, Transcontinental Media owns a total of 170 community publications across Canada.

Read more on the acquisition at The Canadian Press.