As CBS Corp. presented rosy financial results for the fourth quarter and full-year 2010, CBS President and CEO Leslie Moonves said Wednesday that the company expects things to get even better, TVNewsCheck reported.
“The rapid growth of retrans continues to diversify our revenue base,” Moonves said during a conference call. “We beat our year-end target of $100 million by a nice margin. We’re growing retrans and affiliate compensation at a very healthy rate.”
The story points out that the $100 million retrans target represents about 0.7% of the total $14.06 billion in revenue during 2010 for all of CBS’s media outlets. Moonves expects retrans revenue to hit $250 million by the end of 2012, not counting reverse compensation that the company may collect from its affiliates.
The reverse compensation issue remains a volatile one, with the FCC preparing to tackle retrans rules next month. CBS would be considered to have solid leverage in any negotiations, as the No. 1 network in the ratings.