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Australian media companies are feeling the impact of coronavirus-driven business turmoil as companies are slashing marketing spending. So reports Ad News.

arrow 24112 640 smallShares of Nine, News Corp, Sky, oOh!media, Southern Cross and Seven are down by an average of 37% this year, per calculations from Morningstar. Investment bank UBS cut revenue forecasts for metro radio and TV to 10% negative growth.

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