Advertising agencies and media buyers are bracing for spending cuts because of worries over the economy, the Wall Street Journal reports. Publicis Group ad buying firm ZenithOptimedia has slashed its growth forecast, saying U.S. ad spending will increase 1.6% this year and less than 1% in 2009, the paper says. Interpublic Group’s Mediabrands says it doesn’t expect any growth next year and DeWitt Media Strategies says some mid-sized clients already are having trouble paying their bills, the paper says
—Greg Baumann