Wall Street: Is Online Ad Downturn Cyclical Or 'Secular?'Wall Street: Is Online Ad Downturn Cyclical Or 'Secular?'

The recent downward pressure on online display ad prices is leading an influential Wall Street firm to raise a vexing question: "Is display advertising in secular decline?" The question, which is being posed in a new report from the Internet team at J.P.Morgan, comes as the online publishing industry has become flooded by a an oversupply of cheap inventory from the explosive social...