11-5-14
If you blink you'll miss CBS CEO Leslie Moonves' comments about radio during the company earnings call. He said both local radio and TV had a strong third quarter. CBS does not break out the radio revenue in those local numbers. CBS did say radio was up 2 percent while TV was up 10 percent with "local broadcasting" generating $641 million in revenue for the quarter, an overall increase of 6 percent. Moonves said the radio division will continue to focus on its large-market strategy and illustrated that by mentioning the swap of radio stations with Beasley announced last month. For the quarter, CBS took in $3.37 billion an increase of 2 percent over 2013.
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