Earnings: CBS Corp’s $9 Billion Loss


CBS Corp reported its first earnings as the new independent unit, and not much about new media numbers, only assertion that they take new media very seriously etc. It has a loss of $9.1 billion in Q4 on hefty charges to write down the value of its radio and TV businesses. More in earnings release here.

From the conference call (transcript from Seeking Alpha): On new media: Les Moonves: β€œIt is not one of our reporting segments, but it is an opportunity β€” as we mentioned before β€” for all of our divisions to expand their existing operations. I have challenged all of our businesses to drive our world-class content into new platforms and to get paid for it. There are three primary ways we are already doing this. On-demand subscriber fees, subscription, on-demand fees and online advertising.”

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