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It's been a dismal year for ad-supported businesses, but not everyone is getting hurt. A look through recent public company statements on their ad businesses shows a trend: those worst off are (a) exposed primarily to the U.S. ad market, and (b) have the most print and TV in their portfolios.

That's double trouble for many newspaper companies, which spent much of the 90s buying up local TV stations. And it isn't helping those with big cable TV portfolios, either -- but at least those businesses also get revenue from cable subscriber fees, which remain strong for companies like Viacom.

Rare good news for local broadcast TV: Sens. Barack Obama and John McCain, the Democratic and Republican party apparatus, and independent groups are expected to spend $800 million on TV advertising before November, smashing a previous record of $500 million in 2004, according to TNS's Campaign Media Analysis Group, via Reuters.

By Mike Caggeso
Associate Editor

The dormant, yet important, proposed $5 billion merger of Sirius Satellite Radio Inc. (SIRI) and XM Satellite Radio Holdings Inc. (XMSR) cleared a major hurdle, as Federal Communication Commission Chairman Kevin Martin backed the merger - with stipulations.

Concessions Martin recommended include: the stations turn over 24 channels to noncommercial and minority programming as well as a three-year freeze on prices and packages. Both satellite stations have already accepted Martin’s conditions.