Merrill Upfront Projection Revised From Flat to -1

Merrill Lynch has reduced its six-network upfront projection to -1 percent, down from a previous projection of flat, Mediaweek reports. Merrill now sees the six broadcast nets landing $8.98 billion in total upfront sales, versus the $9.12 billion it projected in May. The big four are also projected to be down, taking in $8.34 billion of the total broadcast kitty versus the $8.47 billion Merrill estimated a month ago.