The idea you propose is similar to service management industry & tackles similar issues.
In service management you may have customers getting different levels of customer service ie 7am to 7pm, 24/7, 24/5 etc.
How we have typically catered for these is to have 14 columns eg
Monday start
Monday end
Tuesday start
using a 24 hour clock.
If you use this you would construct your sql to look at the right column pair and select only those valid at the current time.
Issues:
Are the times relevant to
your server
visitors local time
I'm in New Zealand so I could view a banner which is weekend-only (in the States?) on my Monday morning. How do you want that tackled?!