CBS CEO Les Moonves said that NBC’s decision to put Jay Leno on in prime time will help his company’s bottom line. “We were the No. 1 network at 10 o’clock last year,” Mr. Moonves told analysts and investors during CBS’ quarterly earnings conference call Thursday. He estimated that CBS took in 38% of...
Posted to
The Business of Television
by
News
on
Thu, May 7 2009
Filed under:
Filed under: Broadcast, Cable, Digital, Advertising, CBS, NBC, Syndication, Jay Leno, Earnings, Les Moonves
Investment firm Sanford C. Bernstein on Wednesday released a new pessimistic report on media company earnings. “The recent run-up in media stocks suggests investors are looking past the horrid near-term trends to a happier place off in the horizon,” said analyst Michael Nathanson in a report. “However...
Posted to
The Business of Television
by
News
on
Wed, Apr 8 2009
Filed under:
Filed under: Broadcast, Cable, Digital, Advertising, CBS, Viacom, Syndication, Research, Earnings, Time Warner, News Corp., Economy, Walt Disney Co.
Media companies just aren’t worth what they used to be. News Corp. and Time Warner last week both took billion-dollar writedowns against quarterly earnings as the economy lowered the value of some of their assets. The industry titans said the downturn was steeper than anticipated and the watchword going...
Posted to
The Business of Television
by
News
on
Sun, Feb 8 2009
Filed under:
Filed under: Broadcast, Cable, Advertising, Print Edition, Earnings, Scripps Networks, Time Warner, Jeff Bewkes, Rupert Murdoch, News Corp., Economy
Walt Disney Co.’s first quarter profit fell 32%, driven down by weaker performance at its broadcast and cable holdings as the economy has slowed. “We faced a challenging first quarter with many of our businesses impacted to various degrees by the economic downturn,” said Robert A. Iger, Disney’s president...
General Motors, one of the nation’s biggest advertisers, on Friday reported a $4.2 billion third-quarter operating loss and has been cutting back on its first-quarter upfront ad buys on broadcast and cable networks. Network ad sales executives say GM this week has been taking options on its upfront deals...
CBS Corp. reported a third-quarter net loss of $12.5 billion, or $18.58 per share, despite a slight uptick in revenue that came mostly from syndication growth and the acquisition of CNET. CBS had said earlier in October that it would be taking a $14 billion writedown because of the diminished market...
Posted to
The Business of Television
by
News
on
Thu, Oct 30 2008
Filed under:
Filed under: Broadcast, Cable, Showtime, Advertising, Syndication, Katie Couric, Earnings, Leslie Moonves, CBS Corp., CNET, CBS College Sports Network, Sumner Redstone
Viacom said it expects lower earnings growth than it had forecast earlier in the year. The company, which owns cable networks including MTV, VH1, BET, Comedy Central and Nickelodeon, said its earnings growth for the year will be in the mid-single to low-double digits for the 2008. Earlier this year,...