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TV ads made quick and cheap on the Net

A new service allows companies to create television ad campaigns over the Internet in a week for as little as $500.

A Los Angeles-based start-up launched a service Wednesday that allows companies to create television ad campaigns over the Internet for as little as $500 and as quickly as within one week. Spot Runner lets advertisers select a generic commercial from its library, personalize the ads and target customers by demographics, networks and neighborhoods.

Advertisers can buy air time on major networks, including local broadcast and cable channels like CNN and ESPN. The company was formed by Nick Grouf and David Waxman who previously founded Firefly Network and PeoplePC.