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Optimism is AWOL at media gathering


October 14, 2008 Media and entertainment insiders struck some somber notes Tuesday, predicting an extended U.S. economic downturn and growing challenges to the advertising market. Fellow panelist Wenda Harris Millard, co-CEO of Martha Stewart Living Omnimedia, also noted "a lot of unrest" among consumers and marketers and last-minute ad buying in recent months. John Squires, executive vp at Time Inc., argued that consumers will continue to buy magazines in an economic slump, but overall the media environment will be under pressure.

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