|Neil Begley |
Moody's Investors Service
|Recent Daily Interviews|
To help answer that question, TheStreet.com talked with someone who has to pay extremely close attention to the money flowing into and out of media firms: Neil Begley, a senior analyst at credit-rating agency Moody's Investors Service. A seven-year veteran of Moody's, Begley rates the investment-grade debt of media, entertainment and sports firms ranging from AOL Time Warner ( AOL) to YankeeNets.
Begley, previously a media and telecom banker at Barclays Capital and a CPA at KPMG, says a major effect of the terrorist attacks on the media industry is a new note of realism among economic projections.
TSC: Where are the strongest repercussions of the terrorist attacks in the media industry? Begley: This is probably going to be the worst year, year over year, for advertising since World War II. Up until now, for advertising as a whole, there may not ever have been a recession --