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CBS Radio Stations Decline 5% in Q3

11-7-2012
 
CBS Corporation reported third-quarter revenue of $3.4 billion. However, what little time - and space in the financials - is given to the radio division revealed that the radio division was down 5 percent for the quarter. CBS Radio has 126 radio stations in 28 markets, including stations in every top 10 city. Radio does not get a lot of attention in the CBS earnings calls. Executives spend most of their time bragging about TV and entertainment

CBS television station revenue grew 7 percent driven by political and retransmission revenue. CBS CEO Summer Redstone said, “CBS has continued its remarkable run with yet another record quarter. Our world-class content and multiplatform distribution strategy remain at the center of our success. I am very proud of all that Leslie (Moonves) and his team have accomplished, and I know we are in position for continued growth for many years to come.”



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