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BUSINESS
February 18, 2009 | Meg James
CBS declared itself "Mentally Strong" in a news release the other day, trumpeting the big ratings for the network's latest hit drama, "The Mentalist." Fiscally fit, however, is the question. The broadcasting giant today reports quarterly results, and Wall Street is bracing for grim numbers -- and looking for CBS Corp. to outline a strategy for how it will navigate the choppy waters ahead.
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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.
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
February 6, 1997 | Bloomberg News
Westinghouse Electric Corp. said it will be known as CBS Corp. after it spins off its industrial businesses later this year to create a pure broadcasting company. The media company will also use the CBS "eye" as its logo. The decision to use the CBS name and logo came after a $30,000 study by corporate-identity consultant Lippincott & Margulies concluded CBS was a logical choice because it's recognized around the world.
BUSINESS
August 29, 2013 | By Meg James
Justin Bass is a big Los Angeles Dodgers fan, but for nearly four weeks he has been shut out of the action. The continuing contract dispute between television giants CBS Corp. and Time Warner Cable Inc. has blacked out the CBS-owned KCBS Channel 2 and KCAL Channel 9 in more than 1 million Los Angeles homes served by the cable company. Time Warner Cable customers like Bass, unless they have installed an over-the-air antenna to capture the broadcast signal, have missed nine Dodgers games that have aired on KCAL.
ENTERTAINMENT
January 24, 2014 | By Meg James
Although he rarely makes it into the office these days, Sumner Redstone continues to collect a handsome executive compensation package. The 90-year-old controlling shareholder of Viacom Inc. received a package valued at $36.2 million in 2013 in his role as executive chairman of the New York cable television and movie company, according to a filing Friday with the Securities and Exchange Commission. That represented a 50% increase over Redstone's 2012 Viacom compensation of $24.2 million.
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."
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