Business 24|7 reports that since the economic crisis started, the media industry has been facing the biggest challenge surviving the absence of any "bailout packages". The major cause of the current turmoil is the delayed payments to the advertising companies, exceeding 10 months in some cases.

The Holding Group (THG) announced that it has been rebranded as "MENACOM". As part of the rebranding process, the company also unveiled today its new logo and corporate identity, which similarly reflect MENACOM's focus on integrated services, including advertising, public relations, direct marketing, media buying, digital and interactive outreach.

The Khaleej Times reports that the advertising industry in the the Middle East will see its growth shifting from "the very fast to fast" mode in the coming months as the global financial melt-down starts impacting the regional economies, industry leaders said.