madison

Madison Avenue is running scared. Its recent "upfront" - a glitzy annual ritual in which broadcasters give sneak peaks of their upcoming seasons to advertisers and book billions of dollars in advance bookings for these shows - was a dud whose $8.95 billion take represented the third successive year of decline.

SL Green Realty has entered into an agreement to acquire the fee interest in One Madison Avenue from Metropolitan Life Insurance Company (MetLife) for $918 million.