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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
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News
on
Thu, May 7 2009
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Filed under: Broadcast, Cable, Digital, Advertising, CBS, NBC, Syndication, Jay Leno, Earnings, Les Moonves
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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.
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Despite the tough economy and a deep advertising market slump that cut CBS’ fourth-quarter earnings in half and forced the company to slash its dividend, CEO Leslie Moonves said he’s looking forward to the upfront. Citing ratings growth at the company’s broadcast network during Wednesday’s earnings call...
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CBS Corp.’s profit fell 52 percent in the fourth quarter as business deteriorated at its television operations. The company cut its quarterly dividend to 5 cents a share, down from 27 cents in an effort to maintain financial flexibility in the recession. Fourth quarter net earnings declined to $136.1...