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Time Warner Inc. said today that it had a 2008 operating loss, compared with a 2007 gain of $8.9 billion, on $25 billion worth of fourth-quarter impairment charges. The charges were primarily related to franchise rights of Time Warner Cable, which TW spun off two years ago and whose shares it plans to...
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Dish Network said today that its third-quarter earnings fell 54%. The No. 2 U.S. satellite television service behind DirecTV lost customers for the second straight quarter despite spending more to keep them. Net income dropped to $91.9 million, or 20 cents a share, from $199.7 million, or 44 cents, a...
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Cablevision Systems, the New York-area cable company, said today that it turned a third-quarter profit as it increased revenue per subscriber by boosting the number of digital video, high-speed Internet and telephone subscribers. Shares fell today as the company lost subscribers and earnings lagged analyst...
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Crown Media, which owns Hallmark Channel, lowered its net loss in the third quarter as revenue rose 17%. Crown’s third-quarter net loss was $17.9 million, or 17 cents a share, down from $37.9 million a year ago. Excluding interest expenses, Crown’s operations earned $7.6 million, compared with a $12...
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Time Warner reported basically flat financial results for the third quarter, and said it was adjusting its full-year business outlook downward in the face of a "challenging economic environment." Revenue rose at the company’s cable networks. Net income totaled $1.07 billion, or 30 cents a share...
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Viacom said the weakening economy helped cut its net earnings by 37% in the third quarter. The company, which owns MTV Networks, said net earnings were $401 million, or 65 cents a share, down from $641 million, or 96 cents a share, in the year-earlier quarter. Revenues edged up 4% to $3.4 billion. “The...
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Despite an 8% decrease during the third quarter in revenue from core advertising categories, LIN TV reported year-to-year increases of 5% in net revenue and 39% in operating income. Driven by $11.4 million in political advertising and by an 88% increase in digital revenues, net revenues rose to $98.8...
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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
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10-30-2008
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Filed under: Broadcast, Cable, Showtime, Advertising, Syndication, Katie Couric, Earnings, Leslie Moonves, CBS Corp., CNET, CBS College Sports Network, Sumner Redstone
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Scripps Networks Interactive said third-quarter earnings were slightly lower because of costs associated with splitting off from newspaper company E.W. Scripps. Scripps, which runs cable channels HGTV, Food Network, DIY, Fine Living and Great American Country as well as a number of Web properties, said...
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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,...
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Record ratings and double-digit growth at its cable properties helped NBC Universal beat expectations and stand out as a golden-haired child of parent company General Electric, which reported a 22% drop in net income for the third quarter. Considered an economic bellwether, GE said Friday that its net...
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Dish Network said today that its subscriber base shrunk slightly as the company’s second-quarter sales failed to beat analysts’ estimates. The No. 2 U.S. satellite television service behind DirecTV said it had about 13.8 million subscribers, down 25,000 from the beginning of the quarter. Dish’s net income...
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CBS Corp. eked out a 1.1% rise in profits for the quarter ended June 30. It got a boost from the sale of its stake in the Sundance Channel, but soft local advertising revenues and a prime-time ratings dip led it to lower expectations for the fiscal year to low-single-digit growth. The company also announced...
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Cablevision Systems President-CEO James Dolan said the company is open to taking steps to close the gap between its operating performance and its share price. Although it has been one of the most efficient operators in terms of generating revenue from its subscribers, Cablevision's stock has been...