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ITV expects decline of up to 8% in festive ad spend, prompting fall in share price

Retailers are rolling back on their traditional Christmas TV ads, with ITV braced for a fall in advertising spending of up to 8% in December.

Shares in the UK’s biggest commercial free-to-air broadcaster, which accounts for about half the £4.5bn UK TV ad market, tumbled more than 5% as investors were taken aback by the warning of a bleak Christmas.

Related: John Lewis Christmas ad 2017: watch the video of Moz the monster

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