CBS Profit Likely to Fall on Ad Swings

Feb 17, 2009  •  Post A Comment

CBS’ fourth-quarter profit, to be announced this week, may fall more than 50% from a year earlier, despite strong ratings, because the network’s ownership of local television stations leaves it exposed to the drop in TV advertising, the Associated Press reports. Profit at the company, which is preparing to launch a movie studio, also will be hurt by declining advertising for its radio stations and Web sites, the wire service says, citing financial analysts.
—Danny King

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