One of the big advertisers keeping many large metro dailies afloat is Federated Department Stores, owner of Macy’s and other regional chains. At some papers, Federated is the No. 1 advertiser. But according to Ad Age Magazine, Federated will make significant changes in its ad buying starting in September. Federated’s CMO (Chief Marketing Officer) Anne MacDonald isn’t revealing her plans, but analysts quoted by Ad Age say she might take as much as $425 million out of newspapers and put it into network TV by 2008. Federated, which operates a number of regional department store chains with different names, has begun converting them to Macy’s so that a national network TV campaign would work in all parts of the country. Losing Federated will likely mean layoffs at many metro dailies. The shift won’t hurt smaller dailies — those under 100,000 circulation — since Federated hasn’t advertised in those papers.