CBS Radio Revenue Up 1% In Q4
February 14, 2013

CBS Corp. has announced its fourth quarter and full year financial results for 2012. CBS combines its TV and Radio divisions under "Local Broadcasting," which saw its Q4 revenue grow nine percent to $787 million, in part due to political advertising and retransmission revenues. CBS Radio revenue was up by one percent in Q4, with the TV division revenue up 17 percent. OIBDA for the fourth quarter increased 22 percent to $325 million, primarily driven by the revenue growth. For the full year, Local Broadcasting revenue was up to $2.774 billion, from $2.689 billion in 2011.

Overall CBS revenue in Q4 grew by two percent to $3.7 billion. For the full year of 2012, CBS set a new record with $14.09 billion in revenue, a three percent increase from 2011's $13.64 billion.

"CBS has turned in another quarter of exceptional performance, capping off another terrific year," said Sumner Redstone, Executive Chairman of CBS Corp. "Our results today speak to the strength of our strategy—producing and distributing great content and monetizing it over and over again. I am confident that Leslie and his team will continue to capitalize on all of the opportunities we have before us this year and beyond."

"CBS had a record year in 2012, as well as a record fourth quarter, and the momentum is building for an even better 2013," said CBS Corp. President/CEO Leslie Moonves. "Advertising revenue is growing, and our revenue from non-advertising sources continues to grow even faster. This includes new recently signed streaming, retransmission consent, and reverse compensation deals as well as ongoing strength in domestic and international syndication sales. Meanwhile, the confidence and visibility we have in our operations, along with the strategic actions we’re pursuing at CBS Outdoor, have allowed us to announce today that we are accelerating the pace of our share repurchase program by another billion dollars. Going forward, returning value to our shareholders will continue to be a top priority for us. We feel very good about our future, and we are very encouraged by the strength of our core businesses and the increasing premium we are able to command for our content."




 
Breaking News
President Obama To Renominate Jessica Rosenworcel As FCC Commissioner
Herndon Hasty Joins Cumulus Kansas City As VP/Sales
In Brief - May 21, 2015
May 20, 2015
Bruce Lundvall, Longtime Blue Note President, Dies At 79
Zach Mullins Named Digital Sales Manager For Cox Media Group/Atlanta
Quality Control Music Signs Joint Venture With Capitol Music Group/Motown Records
Spotify Adds Video Content, Podcasts
In Brief - May 20, 2015
May 19, 2015
iHeartCommunications To Pay $1M For Misusing EAS Tones During The Bobby Bones Show
Nielsen Study: Radio Delivers Decision-Makers For American Family Insurance
Triton To Represent XAPP Ad Inventory For jâcapps Broadcasters
Pandora To Acquire Next Big Sound
Deezer Expands Content With News, Entertainment and Sports Podcasts
Republic/Island Execs & Artists at the BMA’s
In Brief - May 19, 2015
May 18, 2015
Alpha Media To Purchase Morris Communications Radio Stations
"Party Ben" Gill Joins Pandora
Spanish Broadcasting System First Quarter 2015 Results
Communion Records US Signs Broad Agreement With Capitol Music Group
BMG Acquires US Rock Label Rise Records
In Brief - May 18, 2015
May 15, 2015
Mary Quass, Dan Vallie To Be Honored With The Conclave Rockwell Award For 2015
In Brief - May 15, 2015
May 14, 2015
iHeartMedia Brand Campaigns Win At Festival Of Media Global Awards
Rdio Introduces "Rdio Select"
Music News
Pitch Perfect 2 Comes In At #1
Quick Hits: Taylor Swift, Madonna, Little Mix, Roger Waters
Quick Hits: Foo Fighters, The Rolling Stones, Kanye West, Five Finger Death Punch, Amy Winehouse, Riot Fest
FMQB Photo Pass: MMRBQ 2015
Quick Hits: Sam Smith, B.B. King, Life Is Beautiful festival, Bullet For My Valentine
Taylor Swift Cleans Up at Billboard Music Awards
Chris Brown, Nicki Minaj Lead 2015 BET Awards Nominees
Quick Hits: Taylor Swift, Bob Dylan, Janet Jackson, Nick Jonas, Chinx
Blues Legend B.B. King Passes Away
FMQB Photo Pass: Radio 104.5 Birthday Show
Quick Hits: Eddie Vedder, Drake, U2, LouFest, Earl Sweatshirt
Mumford & Sons Earn Second #1 Album With Wilder Mind
Quick Hits: Pitbull & Chris Brown, Owl City, Jack White & Loretta Lynn, Tedeschi Trucks Band
Quick Hits: Britney Spears & Iggy Azalea, Billboard Music Awards, BMI Pop Awards / P!nk, Jennifer Lopez, Coldplay, BET Experience
Kanye Added To Billboard Music Awards, Receives Honorary Degree
FMQB NOW

Question Of
The Week

Advertisement:
Search FMQB.com
Advertisements:
FMQB Member Login
Email:
Pass:

Save
Not a member yet?
Sign up Now!
Sign Up for Breaking News!
Enter FMQB E-Tracking!