Telecoms and media firms remain positive
Staff, Media Week, Tuesday, 13 January 2009, 3:00pm,
Almost two in three telecoms and media companies expect the current downturn to be no worse than the 2000/2001 recession, according to research from Cobalt, the corporate finance specialist. In addition, 59 of the 100 companies questioned said sales growth would be positive in 2009, with by far the most market opportunities expected to remain in Western Europe and North America.
While 53.5% of respondents expect job cuts across the sector in 2009, almost two in three companies predicted the looming recession would end in 2010.
But the drying up of credit has already had an impact, with 39.6% saying it had been detrimental to their business plans. When asked how government intervention or regulation would change the downturn's path, 36.6% said they actually considered it a threat as the downturn unfolds.
This article was first published on Media Week
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