Menu
Finance

CBS Quarterly Profits Up, But One Less NFL Playoff Game Lowers Revenue

CBS on Thursday "reported a better-than-expected quarterly profit as revenue from its affiliates and subscription fees rose," but revenue fell about 2% as the company "telecast one NFL playoff game fewer in the first quarter compared with last year," according to Devika Krishna Kumar of REUTERS (5/8). In L.A., Meg James notes CBS is expected to finish the '14-15 TV season "in first place in number of viewers" for the seventh consecutive year. The strength "is expected to help CBS negotiate increases in its commercial rates with advertisers for the upcoming TV season." CBS also will broadcast Super Bowl 50, "another selling point" (L.A. TIMES, 5/8). The WALL STREET JOURNAL's Stynes & Hagey note revenue at the cable networks unit -- which includes Showtime and CBS Sports Network -- "edged up 0.4%" to $539M and operating earnings "fell 1.2%" (WALL STREET JOURNAL, 5/8). At presstime, shares of CBS were trading at $59.82, down 2.3% from the close of business yesterday (THE DAILY).

ROSETTA STONE: The HOLLYWOOD REPORTER's Paul Bond reported CBS and Viacom Exec Chair Sumner Redstone "is debunking published reports that his daughter," CBS and Viacom Vice Chair Shari Redstone, "will succeed him at CBS and Viacom when he dies." He said that "no such decision has been made." Redstone in a statement said, "Decisions about who will succeed me as chairman of CBS and Viacom will be made by the boards of the respective companies, and not by any individual." Redstone's statement "seems to be in response to stories in the New York Post and Vanity Fair" (HOLLYWOODREPORTER.com, 5/7).

SBJ Morning Buzzcast: March 18, 2024

Sports Business Awards nominees unveiled; NWSL's historic opening weekend and takeaways from CFP deal

ESPN’s Jay Bilas, BTN’s Meghan McKeown, and a deep dive into AppleTV+’s The Dynasty

On this week’s Sports Media Podcast from the New York Post and Sports Business Journal, ESPN’s Jay Bilas talks all things NCAA. Big Ten Network’s Meghan McKeown shares her insight into the Caitlin Clark craze. The Boston Globe’s Chad Finn chats all things Bean Town. And SBJ’s Xavier Hunter drops in to share his findings on how the NWSL is making a social media push.

Learn more about your ad choices. Visit megaphone.fm/adchoices

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2015/05/08/Finance/CBS.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2015/05/08/Finance/CBS.aspx

CLOSE