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NEW YORK Media agency executives expressed concern today that the impact of Hurricanes Katrina and Rita on oil prices could force some advertisers to cut or consider cutting their marketing budgets in the coming months.
Their comments came at a panel discussion here sponsored by the International Radio and Television Society.
In the wake of Katrina, which devastated New Orleans and environs three weeks ago, oil prices shot up, boosting the price of a gallon of gasoline above $3 per gallon.
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