LOS ANGELES – The flight of advertisers from “The Rush Limbaugh Show” continued Wednesday, with a total of 45 national and local companies pulling their spots, according to the liberal activist groups angered by the talk radio host for calling Georgetown law student Sandra Fluke a “slut” and a “prostitute.”

But Limbaugh told his audience that the reports of advertiser defections had been greatly exaggerated by his opponents, and that the companies that pulled ads accounted for a small minority of the overall ad inventory on the 600 affiliates that carry his show.

“That’s like losing a couple of french fries in the container when it’s delivered to you at the drive-through,” Limbaugh said. “You don’t even notice it.”

An industry expert at the trade magazine Talkers said the system for buying radio advertising is extremely complex and it would be hard to assess Limbaugh’s ad losses in the short run.

The liberal advocacy group Media Matters said it had recorded a list of 45 sponsors – mostly national, but including a dozen that aired spots on WABC in New York, which the group monitors – that had abandoned Limbaugh by Wednesday afternoon.

They included big companies like J.C. Penney and Capital One and also local advertisers like Norway Savings Bank.

Several different activist groups chronicled, and encouraged, the advertiser defections, with much of the news about their decisions delivered on Facebook and Twitter.

The individual social media missives revealed a complicated situation, including instances in which advertisers said they had maintained a “no run” policy for the Limbaugh show, even before the Fluke controversy.

Limbaugh told his audience Wednesday that any defections had been inconsequential.

He said some new advertisers already had signed on, following his commentaries on Fluke last week.

 “Everything is fine on the business side. Everything’s cool,” he said. “There is not a thing to worry about. What you’re seeing on television about this program and sponsors and advertisers is just incorrect.”

Angelo Carusone, campaign director for Media Matters, indicated that a review of Limbaugh’s website or radio show suggested otherwise.