The chief executive of Fairfax Media, publisher of the Sydney Morning Herald, quit Friday after three years at the helm of a company that has lost advertising dollars to the Internet and is now grappling with an economic downturn.
Prime Minister Vladimir Putin's phone-in with the nation may have soothed some crisis-shocked Russians but failed to impress the media, which pointed out that the new premier still looked too much like a president.
The U.S. and Europe will be hit by increasingly severe cuts in advertising spending by marketers, some of who have already begun demanding media agencies lower their fees as one way to cut budgets, according to a top executive of advertising giant Interpublic Group.
The CEO of Fairfax Media Limited, the publisher of leading newspapers in Australia and New Zealand, resigned Friday after three years leading the company.
