by Giselle Sanchez
http://www.primedigitalmedia.com

Maurice Levy, chairman and chief executive of the world's fourth-largest advertising network, Publicis Groupe, warned the publishing industry today that it faced a "deep and profound structural crisis" that would not be remedied simply by recovery from current economic hardships.

Speaking at the FIPP World Magazine Congress in London, Levy said that newspapers' and magazines' share of the advertising market would continue to shrink in 2011, despite economists' forecasts that overall growth in media revenues could return by that time.