Two months ago, Disney said revenue at the 10 ABC owned-and-operated local stations plunged 15% at the end of 2008. Now the drop could be even steeper for the first three months of 2009, according to projections issued Friday by UBS.
A report by the Wall Street firm predicted that revenues could be down 30% in the January-March period, likely driven by declines in spending by the large U.S. automakers. The drop would place revenue at $151 million for the quarter.
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