CBS TV Revenues, Income Dip

Aug 3, 2006  •  Post A Comment

CBS Corp. released its second-quarter earnings report Thursday, which showed revenues and income from its television properties were down slightly from the same period last year.

TV revenue dropped 1 percent to $2.25 billion for the three months ended June 30, while operating income declined 3 percent to $492 million.

Television affiliate fees rose 11 percent with the inclusion of college sports cable network CSTV, a January 2006 CBS Corp. purchase, and rate and subscriber growth for premium cabler Showtime, the company said in its release. The TV division also reported a $24 million cost as part of the shutdown of network UPN.

The company’s radio division saw the steepest declines, with revenue down 8 percent to $519 million and operating income down 20 percent to $220 million.

The best performer was CBS Corp.’s outdoor division, which saw revenues grow 7 percent to $534 million and operating income grow 32 percent to $108 million.

Total revenues for CBS Corp. were down 1 percent from the same period last year to $3.5 billion, while operating income was down 7 percent to $750 million.