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ENTERTAINMENT
February 14, 2013 | By Meg James
Broadcasting giant CBS Corp. reported 6.2% higher profit for the fourth quarter of 2012, boosted by higher advertising at the top-rated CBS television network and an increase in subscriber fees for its premium channel Showtime. For the quarter that ended Dec. 31, CBS earned $393 million, or 60 cents a share, up from $370 million, or 55 cents, in the fourth quarter of 2011. Revenue was up 2%, to $3.7 billion. CBS delivered adjusted net earnings of $414 million, or 64 cents a share, up from $377 million during the year-earlier period -- falling short of analysts' estimates of 68 cents a share.
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BUSINESS
May 8, 2009 | Meg James
The anemic advertising market drained the profit from CBS Corp. The broadcasting company, which owns the CBS network, television and radio stations and a bevy of billboards, on Thursday reported a first-quarter net loss of $55.3 million, or 8 cents a share. That compared with net income of $244.3 million, or 36 cents, for the same period last year.
BUSINESS
March 28, 2008 | From Times Wire Services
CBS Corp. named John Nogawski president of television distribution, responsible for "The Oprah Winfrey Show," "Jeopardy!" and "Dr. Phil." Nogawski will oversee all creative, business and administrative operations for domestic TV syndication, New York-based CBS said. He reports to Chief Executive Leslie Moonves.
BUSINESS
August 5, 2006 | From Bloomberg News
CBS Corp.'s Paramount Network Television named Glenn Geller senior vice president, current programming, replacing Tom Russo. Geller, formerly a programming executive with the CBS network, will oversee prime-time series at the Los Angeles-based studio. He will report to division President David Stapf.
BUSINESS
August 20, 2008 | From Times Wire Services
CBS Corp. hired Jennifer Bresnan to lead development of reality shows, replacing Ghen Maynard. Bresnan, named senior vice president of alternative programming, will oversee reality shows such as "Survivor" and report to CBS Entertainment President Nina Tassler, the New York company said. CBS hired Bresnan from the CW Network, where she supervised programs that included "America's Next Top Model."
ENTERTAINMENT
September 3, 2013 | By Meg James
Cord-cutting continues to nibble away at the U.S. pay-TV industry. According to a SNL Kagan report released Tuesday, the industry suffered a net loss of 217,000 subscribers in the second quarter of this year compared to the same period last year. The report also showed that traditional cable companies -- including Time Warner Cable -- are losing more subscribers to satellite and telecommunications competitors that also offer video service. The report illustrated why Time Warner Cable had little choice but to settle its contentious dispute with CBS Corp., which led to a monthlong blackout of CBS-owned stations in Los Angeles, New York and Dallas.
ENTERTAINMENT
February 19, 2014 | By Joe Flint
The new distribution contract CBS Corp. signed with Time Warner Cable Inc. last summer after a bitter fight could be a casualty of Comcast Corp.'s proposed acquisition of the pay-TV operator. According to people familiar with the deal, it does not include provisions protecting all the terms of the pact should Time Warner Cable be acquired by a distributor with a sweeter arrangement. These people requested anonymity because the agreement is confidential. Terms of the CBS-Time Warner Cable pact were never publicly disclosed, but Comcast, which signed a 10-year distribution agreement with CBS in 2010, is believed to be paying a lower fee to carry the network's TV stations.
BUSINESS
April 14, 2007 | From Bloomberg News
CBS Corp. paid Chief Executive Leslie Moonves $28.6 million for last year, more than twice what Chairman Sumner Redstone received. Moonves was paid $5.61 million in salary and a $15-million bonus, New York-based CBS said. Redstone got $12.2 million including $3.1 million in salary and a $7.32-million bonus.
BUSINESS
June 9, 2006 | From the Associated Press
CBS Corp., which already sells episodes of its hit television shows "Survivor" and "CSI" on Google Inc.'s online video store, is now offering the downloads on Apple Computer Inc.'s iTunes Music Store. Apple's online store carries other shows from ABC, NBC and Fox. It previously offered some CBS programming, such as NCAA basketball, but not prime-time hits.
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