GM won't buy advertising time for 2009 Oscars-WSJ

Newswire

NEW YORK, Aug 17 (Reuters) - U.S. automaker General Motors Corp. has pulled out of its longtime sponsorship of the Academy Awards, one of the biggest annual events on broadcast television, the Wall Street Journal reported on Sunday. The move, which comes amid a sharp downturn in automotive advertising on television, will leave Walt Disney Co.'s ABC without one of its biggest advertisers for Oscar night in February, the paper said. The auto maker has long been one of the biggest spenders ...

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