Georgia TV ad rates skyrocket ahead of January runoffs

Ad rates in Savannah, Georgia, have soared nearly 20 times ahead of the Jan. 5 runoffs, AP reports, and Atlanta's WSB — the state's most influential television station — is charging candidates $18,000 for an ad that cost $8,000 in July.

Why it matters: The outcome of the two races will determine control of the Senate, so millions of dollars in political spending is pouring into Georgia. The cost of the twin contests could approach $500 million.