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CBS Earnings Down After Selling Radio Stations

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CBS reported profits down but revenues up

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CBS reported lower earnings compared to last year, citing the sale of its radio division. However, revenues reportedly went up 3% to $3.26 billion dollars. The increase is being credited by 79% growth from digital initiatives. Specifically, CBS' streaming subscriptions, retransmission revenues and fees from CBS Television Network affiliated stations. Meanwhile, ad revenues for the third quarter of 2018 were up 14%, partly due to political ad sales. “CBS continues to deliver for our shareholders and execute our long-term growth strategy," began CBS President Joe Ianniello, who is also serving as the acting CEO. “We turned in our best third quarter ever in revenue and EPS, and we remain on track to achieve our 2018 outlook, with revenue growth in the high-single digits and EPS growth in the high teens, Ianniello added. What's next for CBS. “Up ahead, 2019 looks to be another outstanding year, with the Super Bowl and Final Four back on CBS, strong gains in retrans and reverse comp, and continued growth in our direct-to-consumer streaming services, which are on track to reach a combined eight million subs, a year ahead of our original projections,” Ianniello shared. “Overall, we are confident that our strategy of growing CBS’ leadership position as a global multi-platform premium content company will lead to even greater creative and financial heights in the years to come.”
G.O.O.D Music's "Cruel Summer" Takes #2 on the Billboard Charts in its First Week

G.O.O.D Music’s “Cruel Summer” Takes #2 on the Billboard Charts in its First Week

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Radio Facts: Its official, G.O.O.D. Music's compilation album, "Cruel Summer". came in second place on the Billboard Sales Charts with over 216,000 albums sold...

SHEILA KIRBY JOINS CBS RADIO AS SVP, SALES TRAINING DEVELOPMENT

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Radio Facts: SHEILA KIRBY JOINS CBS RADIO AS SENIOR VICE PRESIDENT, SALES TRAINING DEVELOPMENT CBS RADIO today announced the hiring of Sheila Kirby for the...

OH NO: KATZ Downsizing

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Radio Facts: As the industry gets more competitive and consumers and ad agencies continue to shift, KATZ Media is feeling...

The Nielsen Company's Canadian 2008 Year-End Music Report

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Radio Facts: 2008 U.S. MUSIC PURCHASES EXCEED 1.5 BILLION; GROWTH IN OVERALL MUSIC PURCHASES EXCEEDS 10% Alternative and R&B dominated the Canadian...

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