CBS Posts Smaller Loss in Quarter

06/05/2010 16:17
The CBS Corporation on Wednesday joined otherdiscount jordan shoes media companies that are climbing out of the crater created by the recession. The company, which owns the CBS television network and local stations, jordan shoes on salereported a net loss of $26.2 million in the first quarter, an improvement from a loss of $55.3 million a year earlier. Excluding the costs of staff cutbacks and tax charges, CBS said it earned $34.3 million. CBS had little to say about its talks about a news-gathering partnership with CNN. jordan shoes for sale Revenue during the quarter climbed 12 percent, to $3.53 billion.jordan shoes online Leslie Moonves, the CBS chief executive, said the increase was the company’s first double-digit, year-over-year revenue gain since it was spun off from Viacom at the end of 2005. Mr. Moonves attributed some of the rise in revenue to cheap jordan shoessignificant improvements in advertising spending and a “remarkable turnaround in local broadcasting.” Groups of local stations had been particularly wounded by advertiser retrenchment, but they now appeared to be rebounding to some degree. One such group, Sinclair, which owns or operates dozens of stations including two CBS affiliates, said Wednesday that its revenue had grown nearly 13 percent last quarter, something it attributed in part to renewed automotive advertising. CBS said its local television and radio stations posted a 19 percent gain in revenue inwholesale jordan shoes the quarter, to $606 million. Mr. Moonves, an advocate of so-called retransmission fees paid by cable operators for local stations, said CBS was on pace to collect at least $100 million in retransmission fees this year. Despite the growing revenue from retransmission fees, CBS is more dependent on discount air jordan shoesadvertising than other major media companies. The company’s total advertising revenue was up 17 percent, to $2.38 billion. About half of that percentage gain, more than $150 million worth, was credited to CBS’s broadcast of the Super Bowl in the quarter. The Nielsen Company said the game was the most-watched broadcast ever in the United States. Looking to the second quarter, Mr. Moonves said the upfrontair jordan shoes on sale advertising sales season that begins later this month “will be the strongest one in years.” Separately, Time Warner acknowledged Wednesday that CNN, its cable news arm, could form a partnership with CBS News or another broadcast news division in the near future. Speaking more openly than he has in the past about a possible partnership, Jeffrey L. Bewkes, chief executive of Time Warner, said that “it’s no secret we ’ve talked to other news organizations” about news-gathering agreements. He told analysts on a conference call that it was air jordan shoes for sale“entirely possible” that a deal would be struck in the next 12 months. Time Warner has held talks with CBS and ABC about news-gathering deals over the years, but the talks with CBS have taken on renewed urgency in recent weeks, according to executives briefed on the discussions. Mr. Bewkes said that a deal, if it happened, would be intended to air jordan shoes onlinehelp the broadcaster more than CNN. He specified that Time Warner did not “have any desire to own a broadcast network.” Asked about the reports of such an arrangement later on Wednesday, Mr. Moonves spoke broadly. “We’ve been talking to CNN for years about what we can do together,” Mr. Moonves said, citing the CNN anchor Anderson Cooper’s role on CBS’s “60 Minutes” as an example of sharing between the two news outlets. “We’re in constant dialogue about, how do we make our businesses better, how do we make them more efficient, and we will continue to do that.” Jordan 18 Jordan 19 Jordan 1vs Jordan 20 Jordan 2 Jordan 2.5