KUALA LUMPUR, Sept 28 (Bernama) -- ECM Libra Investment Research has downgraded the media sector from overweight to neutral.

The research house said adex growth is expected to taper off next year on the back of a dim global economic outlook and higher base effect this year.

"All media stock under coverage are also downgraded from buy to hold," it said in a research note, here Wednesday.

The research house is revising gross adex growth assumption for 2011 and 2012 to 7.8 per cent and 9.2 per cent respectively from 8.2 per cent and 10.8 per cent in view of slower economic growth.

"Our financial year 2011 - 2013 earnings estimates for Media Prima, Star and Media Chinese are lowered by between one per cent and six per cent each year," it said.