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Advertising insolvencies double

Almost 300 companies in advertising and broadcasting went out of business in the 12 months to June 2009, according to research by accountancy firm PricewaterhouseCoopers. The figure includes 211 firms in the advertising sector, a 50 per cent increase year-on-year, as more firms went into insolvency than in other media sub-sectors. The broadcasting sector lost 81 firms, a 40 per cent rise on the previous year.