Yahoo! hit hard by downturn

10/10/2008 | CNNMoney/Fortune

A projected decline in display advertising combined with cratering in financial markets are combining to give Yahoo!'s share price a shellacking. But not everyone is predicting gloom and doom for the popular Web portal. Adify President Russ Fradin said: "Yahoo! has a long history with advertisers. They know what works and doesn't work. For advertisers, there's a flight to the familiar. If you're going to cut web spending, you cut the experimental dollars like social media or mobile."

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