Eastern Europe media boom now in reverse

November 20, 2008 "Eastern Europe has been hit particularly hard by the global financial crisis," Mackenroth told attendees at industry conference the European Television Dialogue in Berlin on Thursday. For the past few years, "New Europe" has been the El Dorado of international broadcasting executives who saw the rapid growth in the ad industries of Russia, Poland and the Czech Republic as a means of compensating for sluggish performance in Western Europe's more established markets. Mackenroth expects Russia, whose oil-driven economy has fallen with the drop in crude prices, to be among the hardest hit.

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