CEO Leslie Moonves made a point to emphasize that only 50 percent of the company revenue is now coming from advertising. That's down from about 70 percent just a few years ago. Obviously the point he wants to make is that the company is diversified and continues to diversify in other areas (like digital) and can withstand a downturn in the economy. In addition to revenue from advertising, CBS takes in revenue from content it creates and sells, and affiliate contracts that generate huge retransmission fees.
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