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NBC Having Local Advertiser Troubles?

NBC claims the economy is hitting their local stations pretty hard:

LONDON (Reuters) – The U.S. economic downturn has had a severe effect on broadcaster NBC’s local television stations but the company has not yet seen an advertising slowdown at a national level, its chief executive said.
“It’s had a profound effect on our local TV stations, which were highly dependent on auto and retail advertising,” NBC Universal CEO Jeff Zucker told a conference of Britain’s Royal Television Society in London on Friday.
“We haven’t seen an advertising slowdown on a national level yet in the United States but obviously we’re concerned about it, and I think if you’re not concerned about it you’re in denial,” he added.

I wonder how much of it is a slowing economy and how much of it is some of the world’s worst TV shows, like this season’s soon-to-be-canceled remake of Knight Rider?

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