Media profit warnings fall in second quarter

But the report warns this should not be taken as a sign that the UK media downturn is bottoming out.

Overall, the first half of 2009 registered the highest number of media companies issued warnings since the first half of 2001, when 47 media companies did so.

Four of the six companies in Q2 2009 blamed cuts in ad spend for their earnings' downgrades, with the remaining two affected by cuts in other corporate discretionary spending such as B2B training and events.

The report concludes the second half of 2009 should bring some stability to the media market.