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Global cooling has media firms wary


August 21, 2008 Virgin Media, British Sky Broadcasting and Liberty Global are among those struggling, and weaker consumer spending could spread the pain to the cable TV sector, Joyce added. "A weaker economy equals less consumer discretionary income equals less propensity to upgrade to higher-speed Internet tiers and digital video packages," he said. All of this comes on top of a U.S. economy suffering from lower consumer spending and weak local ad trends.

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