P&G Slashes TV Ad Budget

By: (AP) Consumer products giant Procter & Gamble reportedly is slashing its TV advertising buying.

P&G is the maker of well-known brand items such as Tide, Crest, and Pampers.

The move is the latest sign of growing doubts about the effectiveness of traditional TV advertising.

The Wall Street Journal reports P&G's decision to scale back spending on commercials was disclosed to TV executives during negotiations over the spending plan for the fall TV season.

People close to the situation tell the Journal that the company plans to slash its commitments to cable channels by as much as 25 percent. Its spending on broadcast networks will be cut around 5 percent. The newspaper says Procter & Gamble also plans to reduce spending on syndicated daytime talk shows.

Last year, P&G was the top U.S. advertiser, spending about $2.5 billion on TV. That was more than 80 percent of its estimated $3 billion ad budget.