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Industry: Email Alert RSS FeedCBS income triples in quarter. (Brief Article)
Broadcasting & Cable, October, 1993 by Foisie, Geoffrey
A variety of factors came together to boost CBS operating income for third quarter 1993 to $133 million, up more than threefold. This year, unlike last year's third quarter, the television network was not competing for advertising dollars against the Olympics, nor did it lose advertising dollars or incur expenses due to coverage of the political conventions. Results for the just-completed quarter also include roughly $29 million in "operating profits" from the settlement of a lawsuit with Viacom.
CBS Chairman and CEO Laurence Tisch attributes the improved results to better unit pricing in the quarter's scatter market, which was higher than the upfront market pricing in each of the network's dayparts. CBS also notes, for the first time in recent history, the...
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