Targeted ads offer hope with America's TV business in upheaval

New York

DOLLARS follow eyeballs. This bedrock principle of media advertising is working against the television industry today, as new viewing patterns challenge old ways of doing business.

The most recent evidence surfaced in August, when one major media company after another reported weaker television advertising revenue. The shares of the companies, including Disney, 21st Century Fox, Viacom and CBS, suffered as Wall Street saw a warning sign that Madison Avenue has recognised for some time.