WPP's Sorrell says it's too soon to say "rebound"

Martin Sorrell, chief executive of WPP Group, says it's too soon to predict a recovery for the ad industry, which is confronting both reduced ad spending and demands for lower rates amid the global downturn. WPP reported a 48% decline in net profit for the first half of 2009 versus the year-earlier period, and an 8.3% drop in organic revenue for that time frame. Sorrell reportedly is predicting a flat rate of growth for the ad industry in 2010.

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