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.
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...
The recession is finally having a deep effect on the national television advertising market. Last week, major media companies reported that marketers have been exercising options to cancel some of the second-quarter commercial time they bought in the upfront. For TVWeek's comprehensive coverage of...
Posted to
The Business of Television
by
News
on
Sun, Feb 8 2009
Filed under:
Filed under: Broadcast, ABC, Advertising, CBS, Print Edition, Upfronts, Scripps Networks, Turner Broadcasting, Peter Chernin, Fox Broadcasting, CPM, Economy, Ad Options
Despite troubled times and ratings erosion, many of the broadcast networks are holding firm to the terms of their upfront advertising deals and are unwilling to offer price concessions, according to ad buyers and network executives. Marketers are facing a deadline for reaffirming the second-quarter TV...
CBS Corp. has joined other television companies in cutting staff to trim budgets, with two top executives at the company’s television studio and several mid-level network staffers among the casualties. Maria Crenna, the head of development for CBS Paramount, is the highest-ranking executive impacted...