2-12-2015
CBS Radio reported a 2 percent increase in the fourth quarter and it was a generally very good report for CBS, especially in its TV sector. Net revenue for CBS was $3.68B, that's an increase of 3 percent over the same quarter in 2013. Midterm political spending was a big factor for the growth of CBS Radio during the fourth quarter. CBS stock was up nearly 3 percent in after-hours trading.
On radio, CEO Les Moonves said, "Radio also continues to be profitable, along with our TV stations our local segment turned in a 40 percent margin for the company, and we continue to build new audiences in radio, by extending our big-market content into the digital world." Moonves made mention of the new podcasting venture play.it, extending the CBS brand in the digital audio space.
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