September 30, 1998 |
CBS Corp. shares fell nearly 10% amid expectations that advertising revenue at the No. 2 U.S. television network will weaken in the second half. The decline came after Morgan Stanley Dean Witter & Co. analyst Frank Bodenchak cut his cash-flow estimates, saying CBS lost advertising because of the General Motors Corp. strike. The network also will get less ad revenue than expected from NFL broadcasts and political campaigns, said Bodenchak.
October 29, 1999 |
CBS Corp. said third-quarter profit rose elevenfold on higher audience ratings at its top-ranked U.S. television network and advertising gains at its radio stations and billboard business. Profit from continuing operations rose to $35 million, or 5 cents a share, from profit from operations of $3 million, or 1 cent, in the year-earlier period. CBS, which is being acquired by Viacom Inc., was forecast to earn 4 cents a share, the average estimate of seven analysts polled by First Call Corp.
November 3, 2006 |
Despite sharply higher third-quarter profit at CBS Corp., investors fretted Thursday that a slowdown in TV advertising could crimp future earnings or that management might risk some of the company's cash stockpile on big acquisitions. Its shares fell 16 cents to $28.76 after the New York media company reported a 26% jump in earnings from continuing operations.
February 18, 2009 |
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.
February 2, 2006 |
CBS Corp. has spoken: When it comes to making its reality hit "Survivor" available for downloading, iTunes has been voted off the island. The company announced Wednesday that it was experimenting with cutting out the Internet middlemen by offering downloads of its popular show for $1.99 an episode on its own website, CBS.com. The service is to be launched tonight, immediately after the show airs on the West Coast.
February 14, 2013 |
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.
October 14, 2009 |
Billionaire Sumner Redstone is breathing easier. Although the 86-year-old media mogul faces a $500-million debt payment in the next two weeks, substantial gains recently in the value of his family's shares in Viacom Inc. and CBS Corp. have given Redstone some badly needed leverage with his lenders. Redstone's privately held family holding company, National Amusements Inc., had planned to sell most if not all of its theater circuit to cover the looming debt payment. But with an improvement in his financial position as well as a loosening of the credit markets, Redstone has decided to hold on to the cinemas -- at least for now -- and thus avoids a fire sale of those assets at the bottom of the market, according to people close to Redstone.
August 15, 2013 |
CW Seed, an experimental digital entertainment studio and website, launched Thursday with four original Web shows. The ambitious effort represents a dramatic increase in the CW television network's investment in original programming for digital platforms. CW intends to roll out fresh episodes each week and add two other Web shows to the site later in the fall. CW Seed will be anchored by the third season of the cheeky comedy "Husbands," which was formerly on YouTube. "Husbands" tells the story of two young guys (a professional athlete and a tabloid personality)
September 3, 2013 |
"Big Brother" contestant Aaryn Gries, whose racial and homophobic slurs have sparked a firestorm - and high ratings - for the CBS reality show, has at least one ally - her mother. Just days after Gries was evicted from the "Big Brother" house, Elizabeth Owens is speaking out in a statement to The Times, chastising her daughter but declaring that the remarks are not reflective of Gries' upbringing or her true character. "While I love and continue to support my daughter Aaryn, words cannot describe my disappointment in some of her comments made on 'Big Brother,'" Owens wrote.
August 29, 2013 |
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.