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).
