Petry Media is undergoing a major restructuring involving layoffs of between 40 and 60 people, according to TV station and other industry sources.

Both of its principal rep firms—Petry Television and Blair Television—are said to be affected.

According to its Web site, Petry Media employs 500 people in the United States in 16 cities and generates $1.5 billion in billings for its 300 client TV stations.

Petry Media executives had not returned requests for comment by press time.

According to sources, the layoffs were announced internally last Friday. But as of yesterday evening some of Petry’s clients had not been officially notified of the changes.

“I didn’t find out from them,” said one miffed client. “Why should I? They’re only my rep firm.”

Another client, the operator of a mid-size station group, learned of the layoffs yesterday from this reporter.

Although first-quarter national spot sales have been slower than expected, industry sources were surprised that Petry would be cutting back so early in a year that will be buoyed by heavy political spending.

Petry lost two key executives last summer—Leo MacCourtney and Tim McAuliff, but there has been little other apparent evidence that the company may be in trouble.

The firm has lost a few small clients, most notably WPSD Paducah, Ky. Ending a 30-year relationship, the NBC affiliate last November shifted its business from Blair to Continental Television Sales, a unit of Katz Television.

But just two week ago, it announced that it had picked up Retro Television Network, a rapidly growing digital network.

In an interview with TVNEWSDAY last August, CEO Earl Jones said the company was stable and preparing to face the digital future.

Petry clients include stations belonging to Gannett, Clear Channel, Entravision, Nexstar, Shurz, Bonten Media, Dispatch Broadcast, Hubbard, LIN, Sunbelt Communications and News-Press and Gazette.

Petry is owned by Patriarch Partners, a New York based investment firm, and company management.