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Cable Networks Book $9.8 Billion in Upfront, Surpassing Broadcast B&C

Cable networks booked almost $9.8 billion in upfront sales this year, surpassing the broadcast upfront, reports Jon Lafayette in B&C.

The growth rate for the 2012-13 upfront was 5%, lower than the double-digit gains recorded during the two previous years, the story notes.

CBS, Fox, ABC, NBC and The CW likely booked about $9 billion in upfront sales, a decline of 2% from a year earlier, according to RBC Capital Markets.