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...
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The Business of Television
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Wed, Apr 8 2009
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Filed under: Broadcast, Cable, Digital, Advertising, CBS, Viacom, Syndication, Research, Earnings, Time Warner, News Corp., Economy, Walt Disney Co.
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...
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...