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Upfronts 2009: Fox Wraps Upfront Negotiations

Upfronts 2009: Complete Coverage
Fox Broadcasting said August 5 that it has wrapped its upfront negotiations.
CBS, The CW and NBC are expected to follow suit soon and call a close to the most protracted upfront in recent memory. ABC is still negotiating with advertisers.
In a statement released on Wednesday evening, after Fox-parent News Corp. wound up its fiscal 2009 earnings call with analysts, Fox sales president Jon Nesvig said, "As the upfront selling season winds down, Fox Broadcasting has
achieved its primetime goal." The network did not specify what the goal was and did not shed any light on its CPM pricing or the amount of inventory it sold.
However, in line with other broadcast networks, Fox is selling less airtime and gambling that a more robust economy brings with it higher scatter pricing.
"With a broader economic recovery seeming to take hold, we are very confident that our marketplace is positioned positively for next year."
Other executives in the market said Fox agreed to roll back pricing in the low mid-single digits.
Wachovia media analyst John Janedis estimates that broadcast networks are holding an additional 10% of inventory for scatter.
Total upfront dollars are expected to drop between 10% and 15%.