News summary: CBS 3Q earns beats views

Posted at: 11/07/2012 4:35 PM
By the Associated Press

CHANNELING PROFIT: CBS Corp.’s third-quarter earnings rose 16 percent as falling ad revenue was offset by higher fees from pay TV distributors.

WEAK SIGNAL: Revenue rose less than 2 percent to $3.42 billion, less than the $3.49 billion expected. CBS blamed poor results at CBS Radio, political conventions and the Olympics on NBC.

ONLINE ADJUSTMENTS? CEO Les Moonves said CBS is considering selling past seasons of TV shows that are still on air to online video services such as Netflix and Hulu Plus. Currently, it only licenses past seasons of shows that are not airing new episodes.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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