Broadcast Q4 earnings: CBS took a $9.5 billion writedown to refl...
Broadcast Q4 earnings: CBS took a $9.5 billion writedown to reflect a decline in the value of its radio and TV properties amid weak advertising industrywide. The firm’s quarterly loss of $8.8 billion was less than a $17.4 billion…
Sign up for a free preview to unlock the rest of this article
Timely, relevant coverage of court proceedings and agency rulings involving tariffs, classification, valuation, origin and antidumping and countervailing duties. Each day, Trade Law Daily subscribers receive a daily headline email, in-depth PDF edition and access to all relevant documents via our trade law source document library and website.
loss a year earlier. TV properties helped boost companywide sales 2% to $3.8 billion; radio cash flow fell 11%… Hearst-Argyle sales and profit declined on weak advertising. Profit plunged about 75% to $9.85 million on a 13% revenue decrease… Radio One shares fell 11% after Pres. Alfred Liggins said it’s too soon to tell if broadcast results will rebound this year. Profit plunged about 50% to $9.5 million, though broadcast sales rose 15% to $9.2 million.