BCFM: 'Big Three' see ad revenue drop

Combined ad revenues for ABC, CBS and NBC dropped 11 percent in the first
quarter of 2003 to approximately $2.66 billion, according to tabulations by
Ernst & Young LLP released by the Broadcast Cable Financial Management
Association (BCFM).

The 2002 Olympic Games in Salt Lake City appeared to be the biggest factor in the
decline -- first-quarter-2003 sports advertising was down 48 percent, BCFM said.

Other dayparts showed healthy increases for the quarter, including prime time
(up 19 percent), late-night (up 24 percent) and early morning (up 9.7 percent).

"Fortunately we experienced a much better quarter than many people had
expected based upon the status of our economy and the potential impact from
programming pre-emptions for coverage of" the war in Iraq, BCFM president
Mary M. Collins said.