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CBS CONTINUES TO FEEL THE LOSS OF FOOTBALL AND BASEBALL
Published October 17, 1994
CNN's Lou Dobbs: "Dismal ratings, lost affiliates, broken deals. It has been a rough year for broadcast television network CBS. This week another dose of bad news. CBS reported a 51% plunge in its profits. The network blames higher taxes and falling sales from losing the rights to broadcast professional football and baseball" ("Money Week," CNN, 10/16). Across its schedule, CBS is about 8% short of the ratings it guaranteed advertisers, meaning it will have to give them free additional ads. CBS President Howard Stringer: "It's a little too early to be concerned" (Elizabeth Jensen, WALL STREET JOURNAL, 10/17). Letterman's Top Ten on Friday night was "Ways CBS Can Improve Its Prime Time Ratings." No. 5: "Show some football games! Everybody loves football games!" ("Late Show," CBS, 10/14).