Credit ratings agency MoodyÂs has said the worst of the advertising recession is over, but that any return to growth in the European media sector will be Âtepid at bestÂ.
The free-to-air TV sector remains challenged and open to possible credit downgrades, MoodyÂs said, adding that pay-TV is faring well and likely to remain robust in 2010. The economic situation remains such that media companies in Europe will not have the capacity for anything aside from Âlimited add-on acquisitionsÂ this year, according to MoodyÂs.
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